Stocks
Russian Banking Market Sees Decline in Card Issuance
The Russian banking market has seen a decline in card issuance, according to recent data from the Central Bank. In Q2 2026, the number of Visa and Mastercard cards decreased by a quarter. Additionally, the regulator reported a drop in the overall issuance of bank cards.
Experts believe this indicates natural saturation of the payment instrument market. Some Russians may be shifting towards payments via Stored-Value Cards (SBP) and virtual cards using smartphones.
The number of inactive cards being withdrawn from circulation is increasing, while for remaining Visa and Mastercard cards, the intensity of payments and transfers is growing.