The volume of payments by credit and debit cards in 2016 worldwide will reach 23.2 trillion for the first time in history will exceed the total amount of purchases for cash (at 22.6 trillion). These conclusions, according to “Interfax”, came research company Euromonitor International.
The growth rate of cash payments decrease and the activity of the use of Bank cards and electronic payments is growing continuously since 2002.
This year the major growth in financial card transactions is recorded in the Asia-Pacific region. According to forecasts, there end of the year, this figure will be plus 1.7 trillion dollars. In North America, where the maps are spread much wider, is expected to increase to 187 billion dollars.
Experts point out that the transfer of payments in the digital sphere can significantly reduce the costs of States, including printing, cash and support their circulation.
On the other hand, some citizens expressed concern that banks and governments can obtain access to information about spending and use it for their own purposes.
There are certain apprehensions related to safety, which only fueled the recent reports of hacking of systems of interbank payments and embezzlement of funds of the Central banks of Ecuador and Bangladesh.
In Russia, reminds Agency, in the first half of 2016, banks have released nearly 249 million payment cards, which is 6.5% higher than in the same period of 2015.
According to the Bank, during the first half of 2016 using the card in Russia and abroad has been committed a total of 8.2 billion operations 23.4 trillion.