What is it about?

Wide adoption of technological solutions in payments, such as mobile wallets, has led to changes at a deeper level: the choice of payment instruments is now influenced by many factors. We explore why Russian consumers choose certain payment instruments and which pain points they have while using them. Reasons for using cards include convenience, safety and access to online purchases while smartphone is used due to speed, attribute of style and financial gain. Cash is used mostly out of habit or on certain occasions but people are ready that it will eventually disappear.

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Why is it important?

With the increasing role of smartphones and other technologies payment instruments change as well. This work is important for financial providers to understand what works and what doesn’t work on the example of Russia. However, the study could be replicated in other countries as well.


This is a first study that considers Russian consumers attitudes toward payments and is very insightful in terms of how people percept different payment methods. It was interesting to uncover the changes in a Russian consumer behavior that have happened for the past 10 years, e.g. from cash being a king to cashless being the most desirable way of payment. I had a great pleasure doing this research especially since I was able to listen to people’s opinions in real time.

Ekaterina Semerikova
Moscow School of Management SKOLKOVO

Read the Original

This page is a summary of: Payment instruments choice of Russian consumers: reasons and pain points, Journal of Enterprising Communities People and Places in the Global Economy, November 2019, Emerald,
DOI: 10.1108/jec-09-2019-0089.
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