Bank Cards as a Cashless Payment Instrument: the Case of Russian Regions

Currently, the information technology is being implemented into all areas of our lives. Not only it accelerates the processes of information exchange, but also significantly reduces the time of purchasing goods and services, making payments and money transfers regardless of a location, time and a currency used. All these facts have a certain impact on the domestic banking sector where dramatic changes have occurred over the past decades as a result of the reforms. One of the most notable transformations is the transition to cashless payments with bank cards throughout Russia. These changes are most noticeable in the sphere of payment for goods and services purchased via the Internet. Using the bank cards significantly changes the citizens’ attitude towards banks, simplifies transactions with commercial organizations, and protects cardholders from potential loss or theft of money, which is no less relevant in modern environment. This final paper named “Bank Cards as a Cashless Payment Instrument: the Case of Russian Regions” is intended to identify factors that affect the dynamics of changes in the number of transactions with bank cards in Russian regions. There is a study in the work, in which the analysis of statistical data on the regions of Russia for the period from 2010 to 2018 is carried out. The results show which factors had the greatest impact on the number of bank card transactions.