The Central Bank and the Ministry of Finance began discussing the possibility of limiting cash balances back in 2012. In the State Duma, even introduced a corresponding bill, which was never adopted because of the recession in the economy, the collapse of the ruble and the decline in the purchasing power of Russians. In January of this year, First Deputy Prime Minister and Finance Minister Anton Siluanov suggested returning to this idea, but later said that the authorities would not take such a step in the next two years.“A few years ago there was a legislative proposal to make the maximum threshold for the calculation of natural persons in cash in 600 thousand rubles, but it was not accepted.” In Western European countries, for example in Italy, if you want to pay in cash for more than one thousand euros, they will refuse, you have to pay bank transfer, “Ozerov said in an interview with RIA Novosti.
He also noted that while the Russians are not ready to give up cash.“We see an increase in the share of using cards, the share of non-cash payment in 2015 was 27%, and in 2017 – 38%.This is a very positive trend, so reaching 50%, I think, is just around the corner,” the banker said.
Ozerov stressed that the popularity of payment with the help of non-contact technology is growing now.
“The current payment with smartphones is just another form, whether it’s a watch, a ring or a keychain – again, most importantly, to be able to verify identity and pay online.” Authentication systems are implemented with the help of fingerprint and retina – all it’s a matter of technology, which will be more convenient and cheaper for the consumer, “he said.
At the same time, a growing segment of credit cards and POS-loans (a loan for the purchase of goods), however these products do not compete, but complement each other, Ozerov said.“There are people who do not have a credit card or a limit on it that does not allow you to fully pay for the desired purchase, and then you can use POS-credit. In addition, the stores often have interesting proposals for the purchase of goods in installments, for example, with zero overpayment and zero first in such cases it is more profitable to take a POS loan, “he says.
Now POS-lending is actively developing in terms of lending to services: lending to tourism, learning foreign languages and medical services is growing. There is also a tendency to simplify access to this kind of loans.
“Gradually, the market is moving away from the presence of several consultants from different banks at the point of sale in the direction of the work of one credit broker interacting directly with several banks,” he said.