The Central Bank of Russia published annual figures showing that usage of the Faster Payments System (SBP) reached new highs in 2024, with the number and value of SBP transactions doubling year on year to over 13.4 billion transactions worth RUB 69.5 trillion. Average daily activity rose steadily across the year, reaching 45 million SBP transactions per day in 2024 Q4 compared with 26 million a year earlier. Payments for goods and services accounted for around one in four SBP transactions, with uptake increasing through the year and, by late 2024, five out of ten Russians preferring to pay via SBP. The number of trade and service companies accepting SBP payments reached around 2.2 million by early 2025, while transfers from insurance companies, brokers and other legal entities to individuals (including cashbacks) exceeded 200 million payments worth over RUB 1 trillion in 2024.
Central Bank of Russia 2025-01-31
Central Bank of Russia reports Faster Payments System volumes doubled in 2024 to 13.4 billion transactions worth RUB 69.5 trillion
The Central Bank of Russia reported significant growth in the Faster Payments System (SBP) in 2024, with transactions doubling to over 13.4 billion, valued at RUB 69.5 trillion. Average daily transactions increased to 45 million by Q4 2024, with payments for goods and services comprising a quarter of all transactions. By early 2025, about 2.2 million trade and service companies accepted SBP payments, and transfers from legal entities to individuals surpassed 200 million payments worth over RUB 1 trillion.