😱Russia🇷🇺: Citizens pay for 22% of purchases using domestic payment services, replacing foreign counterparts

😱Russia🇷🇺: Citizens pay for 22% of purchases using domestic payment services, replacing foreign counterparts

According to analysts from T-Kassa, who conducted the T-Data research project on online payments and transfers, the use of domestic payment services in Russia has significantly increased.

✅ Sample: The research was based on anonymous transactions of "T-Bank" customers conducted between January 1, 2022, and June 30, 2024, along with a random survey of Russians over 18 years old.

✅ Situation in January 2022:

➖77% of purchases were made offline and 23% online.
➖ The most popular offline payment methods were Apple Pay, Google Pay, and Samsung Pay, followed by bank cards.
➖ For online payments, bank cards were the preferred method, followed by foreign payment services.
➖ Payments via QR codes and Mir Pay were not popular, accounting for less than 1% of usage.

The withdrawal of foreign payment services forced Russians to revert to using bank cards. By April 2022, card payments accounted for 76% of all offline cashless transactions and 18% of online transactions.

✅ Current Situation (June 2024):

➖ Card payments have dropped to 63% offline and 15% online.
➖ As an alternative to bank cards, users now prefer to pay via QR codes (59%), contactless smartphone payments (43%), and electronic payment services (38%).
➖ The creation of Russian payment systems has enabled consumers to pay by phone offline again. T-Pay users on Android make 67% of their offline purchases with this service, while 70% of T-Pay sticker users do the same.
➖ Mir Pay accounted for 5% of all offline and online purchases in June 2024.
➖ Electronic payments via ЮMoney accounted for 38%, and smartphone payments with SberPay (20%) and Yandex Pay (19%).

✅ T-Pay User Demographics:

➖ Among T-Pay users on Android, 70% are men and 30% are women.
➖ Among T-Pay sticker users, 55% are men and 45% are women.
➖ 84% of T-Pay sticker users have iOS smartphones. Stickers are most popular among residents of Moscow and St. Petersburg.

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