Debit cards (Russian market)

Main article: Payment card

2024: Release of cards with built-in LEDs that light up on payment

On September 12, 2024 Russia , the release of the first bank cards with built-in LEDs began, which light up when paid. The project was launched, and T-bank the first cards equipped with LEDs were Black debit cards. They glow when touching the terminal during payment, creating a visual effect that does not affect the functionality of the card and does not require recharging or additional power supplies. More. here

2021: Russia recorded a record for the number of corporate bank cards and the volume of payments on them

In 2021, Russia recorded a record for the number of corporate bank cards and the volume of payments on them. According to the Central Bank of the Russian Federation, we are talking about expenses in the amount of more than 2.3 trillion rubles against 2.2 trillion rubles in 2020. Such data were released at the end of February 2022.

The growth trend in the volume of payments on corporate cards was confirmed by banks interviewed by the Kommersant newspaper. Thus, Raiffeisen Bank calculated that in 2021 the spending of companies on corporate cards opened in this credit institution increased by 68% and amounted to 3.6 billion rubles. According to Mikhail Khadzhabekyan, Managing Director of Raiffeisen Bank, loyalty programs with leading payment systems have led to an important incentive for large and medium-sized Russian companies to increase spending on corporate cards. At the same time, the bank predicts an increase in spending on business cards by 30%.

In 2021, Russia set a record for the number of corporate cards and the volume of payments on them

Rosbank calculated that the number of clients using corporate cards in 2021 increased by 22% (year-on-year), and the volume of transactions on them increased by 143%. Compared to 2018, the volume of transactions on corporate cards increased by 6.3 times (compared to 2019 by 4.2 times), and the income on them - by 4.7 times (from 2019 by 3.8 times).

Alfa-Bank calculated that since 2018, the portfolio of corporate cards has increased 2.5 times, and the volume of transactions has increased 2.3 times. They noted that a cashback program launched on them in 2019 played a prominent role in promoting corporate cards. The bank added that spending on corporate cards is almost three times higher than spending on ordinary cards of individuals.

According to Alexei Maslov, co-chairman of the Payment Systems Committee of the Association of Banks of Russia (ADB), the main problem hindering the development of corporate cards in Russia is the peculiarities of accounting: not all payments made on corporate cards can be recorded in expenses and offset VAT, as a result, many transactions are simply unprofitable.^[1]

2020: Six Russian banks entered the world top 150 in terms of debit card turnover at once

Six Russian banks at once entered the world top 150 in terms of debit card turnover. Among the leaders in this indicator in Russia are Sberbank and Tinkoff, Izvestia reported on December 15, 2020, citing a Nilson Report study.

Sberbank is the highest in the international ranking of Russian credit institutions. The company was ranked 11th with an annual debit card turnover of $177 billion.

The position in the Tinkoff rating immediately improved by 44 positions to 91st place, and debit card turnover doubled to $12.2 billion.

According to the Nilson Report, Uralsib Bank worsened its position, reducing debit card turnover to $8 billion per year and dropping to 124th place. In 110th place in 2019 was the "Russian Standard" with a turnover of $9.6 billion.

The total turnover on debit cards in the Russian Federation, taken into account in the study, over the year increased by 15% - from $212.9 to $245.9 billion.

As of the end of 2019, 284.3 million bank cards (credit and debit) were issued in Russia, follows from the statistics of the Central Bank. By the third quarter of 2020, their number increased to 293 million, and the total volume of operations amounted to 27.1 trillion rubles.^[2]

See also

• Credit cards (Russian market)

Notes