Nearly half of Russians are unable to make cashless payments

In Russia, the number of citizens experiencing problems with cashless payments is rising rapidly. The percentage of people who were unable to pay for purchases using bank cards or mobile devices reached 43%, compared to 32% recorded a year earlier. 

The official results of a thematic social survey conducted by the NAFI Analytical Center on behalf of the Central Bank of the Russian Federation confirm a widespread deterioration in the payment sector. 

Respondents cited malfunctioning bank terminal equipment and a complete lack of mobile or fixed-line internet as the main factors behind regular transaction failures. Widespread outages and prolonged disruptions in the mobile network in Russia began as early as May of last year, affecting most regions of the country. The situation has significantly worsened in recent months due to regular and successful attacks by Ukrainian drones on critical infrastructure and fuel and energy facilities, forcing Russian operational services to shut down communications with increasing frequency. 

According to renowned Russian economist Yegor Susin, the number of people unable to use cashless payments will continue to rise rapidly this year, as infrastructure problems with internet coverage and the stability of banking services only worsen.

Source: The Moscow Times.

Massive internet outages, as well as restrictions on WhatsApp and Telegram, have caused a serious conflict between the FSB and Putin’s administration. The Financial Times reports this, citing former high-ranking Kremlin officials.

Internet restrictions were imposed in the Moscow regionahead of May 9.