Payment Method Preference by Rostislav Яныkin: Cards Remain Important
Modern Methods of Payment: Debit and Credit Cards Lead the Pack, While Digital Solutions Gain Appeal
In the bustling financial landscape of Russia, traditional debit and credit cards still reign supreme. During the 1st quarter of 2025, VTB clients racked up over 1.3 trillion rubles in purchases using these cards, marking a staggering 60% growth over the previous year. The corresponding number of transactions swelled by half, reaching an impressive 1.3 billion [1].
Analysts at VTB predict continued growth in debit card spending, with the total tally approximating a 36% surge by year-end [1]. Credit cards have also seen a notable surge; clients spent over 138 billion rubles in the 1st quarter, a 20% increase from the previous year. The number of transactions also climbed, almost doubling in sheer volume [1].
By the end of 2025, the debit card's share is expected to inch up by 1.5%, while the credit card share will slip by the same amount [1].
Payment stickers claim the third spot, with clients making 90 million transactions at a cost of over 65 billion rubles in the 1st quarter. This figure represents a near sixfold increase from the previous year in terms of transactions [1].
Digital cards maintain a steady share of 2.1% of the total transaction turnover. For the 1st quarter, clients made over 21 million transactions, totaling just under 25 billion rubles. This marks a remarkable 54% increase in both the number and value of transactions over the previous year [1].
As stated by Rostislav Yanikin, Senior Vice President and Head of the Transactional Retail Business Department at VTB, "despite the advances in digital payment methods, cards remain the primary payment instrument. In emergencies like dead batteries or lost internet connection, the plastic card steps in as the ultimate lifeline. At the same time, we observe a growing interest in alternative payment methods - modern consumers appreciate flexibility and variety in payment options. VTB is actively addressing this demand: last year, we launched a brand new payment service, continue to develop payment stickers, and are enhancing our debit cards" [2].
Exploring Payment Trends
While the search results do not provide specific info on the growth trends of debit and credit card usage at VTB Bank in Russia from Q1 2025 to Q4 2025, general trends and challenges can be discerned in the Russian payment market:
- Evolving Landscape: The Russian payment landscape has undergone meaningful changes, with a transition towards digital payments aided by regulatory support and shifting consumer preferences.
- Challenges: High costs associated with debit card transactions persist, as seen in countries like the U.S., Sweden, Poland, and Russia [3].
Global debit card trends reveal a booming market expected to grow at an approximate 9% compound annual growth rate (CAGR) between 2025 and 2032. Key drivers include the push towards a cashless economy, elevated smartphone penetration, and supportive digital payment regulations [4]. Notably, Africa is recognized as the fastest-growing region for debit card usage [4].
In contrast, Europe exhibits disparate credit card usage by country, with France emerging as a significant user and countries like Germany and Poland inhabiting the other end of the spectrum [5]. Mastercard credit cards are widely distributed worldwide, with about one out of every four cards issued in the U.S. was estimated in Q1 2025 [6].
For specific growth trends at VTB Bank, delving into the bank's financial reports or press releases would offer valuable insights. These documents usually include data on card usage and transaction volumes [7].
Forecasting card usage for Q4 2025 at VTB Bank necessitates examining historical data and trends from previous quarters. Important factors to consider include evolving consumer spending patterns, economic conditions, political events, and regulatory shifts that could impact card usage. Understanding VTB's strategies for promoting digital payments and expanding its card services would also provide insights into future growth [7].
Sources:[1] VTB press release on debit and credit card usage[2] VTB Corporate interview with Rostislav Yanikin[3] Article on high costs associated with debit card transactions in various countries[4] Market research report on global debit card market growth[5] Study on European credit card usage variation[6] Mastercard annual report on worldwide credit card distribution[7] To access financial reports or press releases from VTB Bank, visit the bank's official website or financial news platforms.
What could be the expected growth trends of debit and credit card usage at VTB Bank in Russia from Q1 2025 to Q4 2025, given the current growth rates and analyst predictions mentioned in the text? As technology advances and consumer preferences shift, what role might it play in shaping the future of business finance in the Russian market?
