The Bank of Russia's Faster Payments System (SBP)has continued to expand rapidly as a core pillar of the country's payment infrastructure, reflecting both rising digital finance adoption and the broader evolution of cashless transactions. SBP, launched in 2019 and operated under the national payment system framework, enables real-time interbank transfers using simple identifiers like mobile phone numbers and supports payments for goods, services, bills, and person-to-person transfers. 

Strong Growth in Transaction Volumes

In 2025 SBP activity demonstrated robust expansion across multiple usage metrics:

Total transaction volume climbed sharply, with approximately 18.3 billion operations processed through SBP — a year-on-year increase of about 1.4x — and total payment value rising by 1.5x to ~103 trillion rubles. 

Daily average transactions reached around 50 million, roughly 30 % higher than a year earlier. 

In the fourth quarter, consumer engagement increased, with one in ten Russians using SBP for transfers and one in five for payments per billing period.

Within these aggregates, P2P transfers remain the dominant use case, accounting for billions of transactions as users shift funds between accounts almost interchangeably. Merchants’ acceptance of SBP has also surged, with nearly 3 million points now accepting instant payments, including broad participation from SMEs. 

Enhanced Merchant and Business Adoption

SBP is increasingly used not only for persontoperson transfers but also for consumer and commercial payments:

Payment for goods and services via SBP is becoming more common, with roughly 15 million consumer payments per day in late 2025. 

A growing share of SMEs, especially small and medium trade and service businesses, are integrating SBP acceptance, broadening digital acceptance outside large retailers. 

This trend highlights SBP's role beyond a mere transfer rail — it is evolving into a mainstream digital payment acceptance network, lowering costs and friction for merchants and consumers alike.

Impact on the National Payment System

SBP sits within Russia's broader National Payment System (NPS)overseen by the Bank of Russia, which includes card systems, clearing infrastructure, and regulatory oversight for safe, interoperable cashless settlements. As of January 2026, the NPS encompassed dozens of payment systems and transfer operators, with SBP integrated into most domestic banks' offerings. 

This infrastructure supports the transition to cashless retail transactions, given the exceptionally high share of cashless turnover (approaching 88 %) in recent reports. 

Strategic Implications and Future Directions

The SBP's growth trajectory reflects several strategic shifts in Russia's financial landscape:

Consumer habit formation: Frequent use for both transfers and payments suggests SBP is becoming embedded in everyday financial routines. 

Cost efficiency and competition: As an instant, low-cost rail, SBP intensifies competition with traditional card networks and supports financial inclusion. 

Digital finance foundations: The system lays groundwork for broader innovations such as expansion of QR based unified payment acceptance and potential integration with new instruments like the digital ruble in future years. 

In summary, the SBP's expanding role underscores a maturing digital payment ecosystem in Russia, where instant payments constitute a substantive share of both personal and business financial flows, reshaping consumer behavior and enabling broader commercial acceptance. This evolution positions Russia's payment infrastructure for continued digital transformation and deeper integration with emerging financial technologies.