Consumers increasingly opt for payments via SBP
In 2023 Q3, people's payments for goods and services made via the Faster Payments System (SBP) totalled ₽0.8 trillion. Over July—September 2023, the number of such transactions surged by nearly 40% compared to April—June, reaching almost 0.5 billion. Today, one in three Russians use this system, which is evident from the Bank of Russia's data.
Person-to-person transfers are also becoming increasingly more popular. During 2023 Q3, their number and amount increased by 10% and 17% quarter-on-quarter, respectively.
Overall, people's transactions made via the SBP over 2023 Q3 numbered 1.9 billion totalling ₽8.3 trillion, which is 15% and 19% higher quarter-on-quarter, respectively.
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