Russia sees first drop in cashless payments since many years
The share of cashless payments in Russia's retail sector declined slightly to 88.4% in the second quarter of 2026, marking the first drop in many years due to increased demand for cash, according to the Central Bank of Russia.
Consensus
- The share of cashless payments in retail turnover in Russia decreased by 0.5 percentage points in Q2 2026.
- The share of cashless payments reached 88.4% in Q2 2026.
- The decline was attributed to increased demand for cash by citizens.
- Cashless payment volumes and transaction counts continued to grow, but at a slower pace than cash transactions.
- The Central Bank of Russia reported that the number of cashless transactions and their volume increased compared to Q1 2026.
- Alternative payment methods such as QR codes, biometrics, and Bluetooth saw growth in usage.
- The number of cash withdrawal operations increased by 15% in volume and 20% in quantity compared to Q1 2026.
Points of divergence
- Experts cite restrictions on mobile internet access for both sellers and buyers, as well as the consequences of a tax reform forcing small businesses to switch to cash payments, as key reasons for the decline in cashless payments. — kommersant
- The decline in cashless payments marks the first reduction in many years, with the share dropping from 88.9% to 88.4%. — tg_moscowtimes_ru
- The share of cash payments rose to 30.2% in April–May 2026, up from 25% in the same period of the previous year. Cash usage is highest in southern regions such as Dagestan (36%), Ingushetia (32%), and North Ossetia (30%). In Moscow, cash payments account for 10% of transactions. — vedomosti
- The Central Bank emphasized that citizens continued to actively use cashless payment methods, and the share of alternative payment methods (non-card) rose to 15.1%. — interfax
Coverage (5 sources)
- The share of cash payments in Russia has grown for the first time in many years — Коммерсантъ
- Russians for the first time reduced share of cashless payments for purchases due to shift to cash — The Moscow Times
- The share of cashless transactions in retail slightly decreased in the second quarter — Ведомости
- Share of cashless payments dropped to 88.4% due to citizens' demand for cash — Интерфакс
- Russians are paying more often in cash — Вести