Sberbank and VTB will replace up to 50% of plastic cards with digital

So, by the end of 2023, Sberbank plans to issue 50% of all issued cards exclusively in digital form.

“At the beginning of next year, we will provide all customers with the service of“ plastic as an option ”, and when ordering any card product, they can immediately use it in digital form,” said Kirill Tsarev, deputy chairman of the board of the credit institution.

According to him, "plastic", if necessary, can be ordered later. 

VTB has similar plans: it wants to issue up to 40% of its cards in digital form.

According to a bank representative, this year the demand for virtual cards has been constantly increasing.

So, in November they were issued 2.5 times more than in January, and since the beginning of the year the volume of emission has exceeded 300 thousand.

Earlier, the expert commented on the growing popularity of transfers through the fast payment system (FPS).