Love to “Cash” is a serious obstacle for E-commerce development in Russia

To reduce the share of cash payments in Russia, government as always considers possibility via administrative action. Today in the Russian government discussed the requirements for business networks with large turnovers of organizing the necessary payment infrastructure. Also addressed the question of limiting the amount of cash payments. Deputy chairman announced that 600 K rubles, but noted that the amount is still being discussed. Not excluded, in his opinion, mandatory translation of salaries, pensions and benefits at stake.

The First Deputy Chairman of the Bank of Russia: only 11.5% of the population use payment cards to pay for goods and services, although in the past five years, the share of Russians with bank cards, rose from 18 to 63%.

According to the National Bank of Belarus, in Bashkortostan at the beginning of October 2012 issued 5,209,318 cards. This is the sixth figure in the country. The first five positions were occupied by Moscow and Moscow region, St. Petersburg, Sverdlovsk Oblast, Krasnodar Krai and the Tyumen region. In Bashkortostan, one million citizens of the republic have 1281505 cards.

George Luntovsky believes that the development of electronic payments hinders underdeveloped infrastructure: in our country, “the infrastructure is built to more people to withdraw cash from the card.” Russia leads Europe in the number of ATMs, but has one of the highest number of POS-terminals (POS terminals for receiving customer payments).

Posted by Roman Mikhaelov

#Ecommerce #paymentnews #Alternativepayments #russianbanks #paymentsinRussia