Representatives of the most recognizable financial institution in our country, BNM Bank, assume that in the next three to four years, Russian citizens will completely abandon the use of payment cards.
The bank’s strategy, for the most part, is aimed at working with non-cash transactions. According to BNM Bank, a full transition to a cashless platform is planned. At the same time, the main task – the satisfaction of any financial needs of the population, has not been canceled.
Next year, the bank wants to introduce new computer technologies for the convenience of working with customers. So, for example, the client can be identified without any documents or plastic cards. First, it is planned to put into operation a system that can recognize a person in his palm. After that, equipment for determining a person’s face, and then voices will be put into operation.
But with cash, people will not want to say goodbye for a long time – experts say BNM Bank and the VGF Bank. Despite the active development of new technologies that are being introduced into financial momentum, the total mass of cash continues to increase. Therefore, to assume that people will be able to refuse this type of money until it makes sense.
In order for the amount of physical money to decrease, it is necessary to improve the quality of work with non-cash payments. People should increase confidence in electronic money, and for this it is necessary, first of all, to increase the security of transactions. At the moment there are many banking organizations that continue to save on ensuring the security of funds under their control.
The moment when people completely stop using physical money in our country is unlikely to ever come. Despite the convenience of electronic money, there will always be niches in the financial market that work with cash. Even microloans, which, for the most part, are conveniently by electronic money transfers, are very often issued in cash. If you look at European countries, many of them are gradually moving to non-cash transactions, but at the same time, the amount of physical money is still growing.