The Bank of Russia plans to implement the possibility of accepting cash within the framework of the quick payment system (SBP), the Kommersant newspaper writes on Tuesday with reference to market participants.According to the publication, Qiwi noted in the payment acceptance system that “they are already working on a pilot to receive cash through SBP in retail,” but they have not yet disclosed details. The Bank of Russia confirmed that “this issue is being discussed.” The National Payment Card System (NSPK, SBP operator) also noted that “this initiative is currently being discussed, but it’s premature to talk about the mechanics and timing of its implementation.”How exactly the cash acceptance will be implemented under the SBP is still unknown, the publication notes. According to the director of the Golden Crown, Ivan Sitnov, potential cash payments can be realized both through terminals and through retail chains acting as bank payment agents. Qiwi says that any simplification of accepting payments and making them is a huge plus not only for users, but also for banks.However, according to the newspaper, some banks consider the option of accepting cash in the framework of SBP unnecessary. Thus, VTB notes that the share of cash turnover in recent years has significantly decreased, so the demand for such an option may be low. The share of non-cash payments is now about 60%, within four years the Central Bank of the Russian Federation intends to bring it up to 80%, the publication cites the regulator.
