Post sponsored by

MIL OSI Translation. Region: Russian Federation –

February 8, 2022, 07:03


The share of online payments in the total turnover structure reached 51 percent.

According to the results of 11 months of last year, the turnover of online payments for goods and services amounted to 6.8 trillion rubles. This is one and a half times more than in the same period of 2020. Anti-pandemic restrictions and general digitalization have led to the growth of online shopping.

Deputy Mayor of Moscow for Economic Policy and Property and Land Relations Vladimir Efimovnoted that the share of online payments in the total turnover structure reached 51 percent.

“Some segments of the service sector have almost completely switched to working on the Internet. For example, in insurance, the share of online payments in turnover for 11 months of last year amounted to 87 percent – 478.2 billion rubles, for travel agencies – 82 percent, or 424.5 billion rubles. Citizens are increasingly buying tickets to theaters, museums and concerts on the Internet, thanks to which the share of online payments in the field of culture and entertainment has reached 69 percent – ​​15.4 billion rubles,” he said.

Muscovites have grown interested in online courses and educational platforms. For 11 months of 2021, the share of Internet payments in this area amounted to 60 percent (51.3 billion rubles). Minister of the Government of Moscow, Head Department of Economic Policy and Development of the Capital Kirill Purtovnoted that the growth of online payments has helped increase the demand for Internet acquiring services, through which payments are made without the use of a POS terminal.

“According to the results of 11 months of 2021, every fifth taxpayer in Moscow had the technical ability to make payments via the Internet; over the year, there were 37 percent more such taxpayers,” he said.

However, there are industries in which the sale of goods and services online has not become predominant. In retail trade, the share of payments via the Internet amounted to 34 percent (1.6 trillion rubles), in wholesale trade – 49 percent (251.7 billion rubles). Offline payments are often preferred by clients of hotels and hostels. The share of online payments in their turnover does not exceed 14 percent (11 billion rubles). The same situation has developed in the postal and courier activities. Only about nine percent of the cost of services (8.8 billion rubles) is paid through the Internet.

The healthcare sector for online payments is also at a low level – 10.5 percent (27.7 billion rubles), in veterinary practice – 7.2 percent (681 million rubles). With the help of the Internet, Muscovites pay mainly only for consultations during the initial appointment.

The Moscow Analytical Center noted that during the coronavirus pandemic, metropolitan residents began to more often apply via the Internet for registration of rights and cadastral registration of real estate. For three quarters of last year, 473.2 thousand applications were accepted. Compared to the same period in 2020, the growth was 60 percent.

More information about the economic policy and property and land relations of Moscow can be found at site.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

MIL OSI Russia News