Virtual cards

2020: Splash demand for digital maps in Russia

At the beginning of May, 2020 it became known of sharply increased demand for digital maps which cost to banks much cheaper of normal plastic. Design of virtual cards increased because of a pandemic of a coronavirus of COVID-19 and entered with respect thereto measures of self-isolation of the population.

As reported to RBC in VTB, demand digital maps in April grew more than by 10% in comparison with February and March, 2020.

Russians began to make out in large quantities digital bank cards because of a coronavirus

The number of the virtual cards issued by Russian Standard in March, 2020 increased by 26.89% concerning February. In April the bank registered increase in demand for this product: the number of requests for them grew from April 13 to April 19 by 11.41% in comparison with the last week.

In mobile application of Sberbank the average daily number of aktivation of debit digital maps at the beginning of April, 2020 grew three times in comparison with the same period in March. 

The vice president of Visa Yury Topunov told the edition that by the beginning of May, 2020 digital issue is implemented  by about 20 banks thanks to what in the country  more than 1 million digital-cards are produced. The representative of MasterCard also declared to the edition great demand for this product.

Promsvyazbank and Opening at the beginning of May, 2020 stated that they intend to permit clients to make out digital maps in the nearest future.

Total expenses on release of one plastic card reach 500 rubles — costs for material, personnel and the equipment enter here. Issue digital maps 70% cheaper, the representative of Qiwi explained.

At release of digital maps there are no costs for component parts, production, packaging and logistics. There are transaction costs, service and updating of products — he told RBC.

Digital bank cards have practically  the same functions, as plastic. To use such map not only online, but also in shops, it is necessary to add it to a mobile purse.^[1]

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