26.12.2024, 08:01
Interest in UnionPay cards has decreased in Russia
Source: OREANDA-NEWS
OREANDA-NEWS One in five Russians surveyed has issued a foreign bank card to pay for travel. This is evidenced by the results of a survey conducted by the financial marketplace, reports TASS.
Meanwhile, UnionPay cards turned out to be half as popular — in 2024, only five percent of respondents used them, compared with 14 percent a year earlier.
The agency clarifies that due to the imposition of sanctions, UnionPay cards issued by several Russian banks have ceased to function abroad.
It is noted that 21 percent of the respondents issued a card to foreign credit institutions, compared to 18 a year ago.
Earlier, there was a forecast about the low probability that there will be more credit institutions issuing UnionPay cards in Russia. Experts noted that small banks cannot afford to invest large sums in infrastructure for working with the Chinese payment system. In addition, by establishing a mass distribution of these cards, the organization risks being sanctioned.
Meanwhile, UnionPay cards turned out to be half as popular — in 2024, only five percent of respondents used them, compared with 14 percent a year earlier.
The agency clarifies that due to the imposition of sanctions, UnionPay cards issued by several Russian banks have ceased to function abroad.
It is noted that 21 percent of the respondents issued a card to foreign credit institutions, compared to 18 a year ago.
Earlier, there was a forecast about the low probability that there will be more credit institutions issuing UnionPay cards in Russia. Experts noted that small banks cannot afford to invest large sums in infrastructure for working with the Chinese payment system. In addition, by establishing a mass distribution of these cards, the organization risks being sanctioned.
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