Russian banks are not yet ready to drop plastic cards and payment labels in favor of digital cards, as observed by RIA News in interviews with several credit institutions.
Last year, the bank issued more than 15 million cards, with over 3 million of them being digital, according to the VTB press service. In 2024, the bank has already issued 3.4 million cards, a mix of plastic and digital, and customers continue to show a preference for the traditional plastic format.
The Director of Retail Products at Dom.RF Bank, Daria Morozova, explained that the institution will maintain a strong volume of plastic card issuance because not all customers are ready to switch completely to digital alternatives.
PSB’s press service noted a 1.5x increase in plastic card issuance last year, driven by a growing customer base and expansion into new regions across the Russian Federation.
In March, Russia’s Environmental Operator (REO) proposed reducing plastic waste across the country, urging organizations to adopt information-based solutions instead of relying on plastic cards and paper receipts.
Earlier, Alfa-Bank rebranded its business cards and released metal versions, signaling a broader trend of experimentation with card materials while maintaining the role of physical cards in its offerings.