Report: Non-cash payments accounted for 64.2% of Russia’s Q3 this year

Glavportal reports that as cryptocurrency adoption increases and Russia prepares to launch a CBDC, more and more Russians are refusing to use cash and opting for “cashless” payments, according to a study conducted by SberIndex and Check Index. In the third quarter of 2023, Russia's non-cash turnover accounted for 64.2%, which was higher than the proportion in the first quarter of fiscal year 2023 (63.3%), and increased by 3.6% compared with the same period in fiscal year 2022. Topping the list is the Nenets Autonomous Region in the far north, where nearly 76% of payments are non-cash. They are followed by Yakutia and the Republic of Chechnya in the Russian Far East, with a proportion of slightly more than 75%. (Cryptonews)