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Number of users of different domestic and cross-border elements in Russia's payment system from 2012 to 2020

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Sources

Release date

January 2022

Region

Russia

Survey time period

2012 to 2020

Special properties

Numbers are as of the end of the year

Supplementary notes

The source does not specify which type of SWIFT message - FIN, InterAct or FileAct - it covers, only that it shows "information on the flows of SWIFT messages supporting the payment industry".

Citation formats

Number of SWIFT users compared to other payment systems in Russia 2012-2020

Published by ÌÇÐÄÆƽâ°æ Research Department, Feb 28, 2022
Cross-border payment system SWIFT is not used as often in Russia as domestic systems BRPS or NSD - although user numbers declined for all three systems. The differences are likely caused by the purpose of the different systems: SWIFT, for example, deals with (cross-border) financial information exchange. It makes money transfers between financial institutions possible by way of transmitting a message that announces an impending transactions. BRPS or the Bank of Russia Payment System, however, is a system that handles payment settlements - or the actual money transfer. Russia does have its own domestic messaging system like SWIFT - called SPFS - but no concrete figures are provided for this system.
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