Experts spoke about the transition of Russians to alternative payment instruments

Russians prefer alternative payment instruments, and they leave cash for gifts and tips, according to the results of a VTB survey.

According to the data provided, over the past year, every second respondent has become less likely to use cash. This trend is most noticeable in the Urals and St. Petersburg.

The respondents noted that the choice of payment instrument depends on the purchase amount. When spending up to 3 thousand rubles, respondents aged 26-34 are most likely to use SBP, and payment by pay services is especially popular among respondents aged 35-44.

For purchases of up to 100,000 rubles, SBP is in high demand among Russians aged 18 to 34. Biometric services are used by every tenth participant in the study from the age group of 26-34 years.

Purchases over 100,000 rubles with the help of SBP are most often paid for by Russians aged 26-34, and pay services are popular in the 35-44 age group.

More than half of Russians (57%) appreciated the convenience and speed of paying for purchases using alternative tools, and 40% of respondents noted favorable conditions when using them (cashback and discounts).

Experts noted that at the same time, cash has not disappeared from the wallets of Russians, but its function has changed. 43% of respondents reported that they use cash as gifts, 28% for tips, and 14% said that cash helps control expenses and reduce the number of spontaneous purchases.

"Cashless payments are becoming not just a technology, but a familiar part of everyday life, and soon money will be given not in holiday envelopes, but sent with digital greetings," said Alexey Okhorzin, Senior Vice president and head of VTB's retail business products department.

The study was conducted among 1.5 thousand Russians aged 18-65 years in cities with a population of over 100 thousand people.

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