Plans to In­crease Share of Cash­less Pay­ments in Be­larus

Economy of Belarus - - NEWS -

Plans have been made to in­crease the share of cash­less pay­ments in re­tail sales in Be­larus to at least 40% by 2021. The ob­jec­tive is in­di­cated in the strat­egy for the de­vel­op­ment of dig­i­tal bank­ing in Be­larus in 2016-2020. The doc­u­ment was adopted by an ex­ec­u­tive or­der of the National Bank and posted on the web­site of the reg­u­la­tor in March.

“The share of cash­less pay­ments in re­tail trade is an in­di­ca­tor of the ef­fec­tive­ness of the cash­less pay­ment sys­tem. This in­di­ca­tor is pro­jected to reach 40% by 1 Jan­uary 2021,” the strat­egy reads. The doc­u­ment spec­i­fies that as of 1 Oc­to­ber 2015, the share of cash­less pay­ments in re­tail was 24.7%.

The strat­egy en­vis­ages fur­ther re­duc­tion of the load on cash­less pay­ment ter­mi­nals in re­tail out­lets. The load is ex­pected to go down to 90 cards per one pay­ment ter­mi­nal by 2021. As of 1 Oc­to­ber 2015, the fig­ure stood at 123.

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