The Share of Cashless Payments in Russia Decreased to 88.4%

In the second quarter of 2026, the share of cashless payments in Russia's retail turnover decreased from 88.9% to 88.4%. This marks the first decline in this indicator in many years. Since March 2026, there have been increased disruptions in mobile internet, making card or QR code payments unavailable in some cases. The volume of cash in circulation increased by 2.6 trillion rubles over six months, with 1.5 trillion rubles accounted for in the second quarter. The rise in VAT from 20% to 22% and the reduction of the revenue threshold for VAT exemption from 60 million to 20 million rubles also contributed to the shift of businesses towards cash transactions. 32% of citizens have reported receiving more offers to pay in cash, and the demand for signs stating 'Cash Only' has increased. The Central Bank expects that by the end of the year, the volume of cash in circulation will increase by another 1.6 trillion rubles.

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