26 Июня 2020

Paper Money Don’t Come Useful

Krasnodar, 26 June. Cashless payments are becoming more popular in the Kuban region. During the first quarter of this year, residents and visitors of Krasnodar krai spent over 162 billion roubles paying with bank cards for goods, works and services. The volume of cashless transactions grew by 25.6% compared to the same period of 2019. Of the total money turnover, cashless, including contactless, transactions made up 207 million operations, or by 55% more than in January - March 2019. The share of cashless payments in the total number of card operations reached 87.7%, adding 6% over the past year.

“The so-called ‘heat map’ helps us assess the results of our work. We recently updated it and saw that only 5% of the settlements remained in the ‘red’ zone on the level of accessibility of financial services, compared to 16% at the beginning of the previous year. This zone covers the municipalities where there are no or few ATMs, so people have to withdraw cash to pay for their everyday purchases,” Yevgeni Eberents, Head of the Southern Directorate of the Bank of Russia, commented.

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