Russia’s Central Bank Sets Out to Measure Usability and Progress

Assessment Criteria

To do this, the Central Bank will introduce two new indicators that are expected to become reference points for the entire digital finance ecosystem. The first is a digitalization index of the national payment system. It is a composite metric built on five sub-indices and 15 specific indicators. Together, they are designed to provide an objective picture of competition in the payments market, transaction security, speed and accessibility, and the diversity of services available, including QR payments, biometric authentication, and peer-to-peer transfers.

The index will also factor in issues that have become especially important under sanctions, such as the level of import substitution and how favorable the environment is for launching fintech startups.

The second indicator focuses on consumer satisfaction with payment services. This will be measured through surveys of individuals and businesses, asking how easy it is to pay for online purchases, transfer money for education, or pay by QR code in a store or coffee shop. By doing so, the regulator is confirming its course toward developing a human-centered model of the digital economy.

An Index as a Map of Demand

To calculate the digitalization index, the Central Bank will not need to collect additional data. All inputs already come from standard reporting submitted by financial market participants. The first set of results, covering 2025, is expected to be calculated this summer and will serve as a starting point for analyzing dynamics in subsequent periods.

For Russia’s IT and fintech sectors, these indicators create a transparent map of market needs. Objective data on weak points will help direct efforts toward developing and deploying in-demand solutions, improving transaction speed and security while expanding customer-oriented services. Innovation will not only accelerate the development of the country’s digital economy but also expand its export potential. Russian fintech solutions are already being used in countries across the CIS, Africa, and Latin America.

We need to see how these indicators change over time. Depending on the results, we will understand where to move next, where adjustments are needed, and where regulatory changes may be required

Alla Bakina

Director of the National Payment System Department, Central Bank of Russia

Competition Beyond a Single System

The Central Bank forecasts that by 2030 the share of cashless payments in Russia will exceed 90%. In the first three quarters of 2025, it had already reached nearly 88%, compared with less than 20% eleven years ago. The structure of payments is shifting toward biometrics and QR codes, which now account for more than 14% of all transactions. This market continues to evolve, generating new IT solutions to meet growing demand.

Meanwhile, the national payment infrastructure is not limited to a single system. In an interview with TASS, Alla Bakina, Director of the National Payment System Department at the Central Bank of Russia, emphasized that the National Payment Card System is not the only payment system operating in the market. According to the regulator’s registry, 28 payment systems are currently active, which, as she noted, is precisely what constitutes competition.

A Human-Centered Benchmark

This diversity did not emerge by chance. Since 2019, Russia has actively developed the Faster Payments System, and from 2023 the digital ruble has been tested, becoming a full participant in federal-level budget settlements starting in 2026. At the same time, work is underway to strengthen cybersecurity and enhance consumer protection.

With the introduction of the national payment system digitalization index and the consumer satisfaction metric, the payments market becomes more measurable and manageable. Financial digitalization has reached a stage where the key criterion of success is no longer the number of transactions, but the satisfaction of the person making them. This approach may serve as a model for the broader digital economy in Russia.