Sovcombank Customers Age 45+ Who Prefer Contactless Payment Triples

  • Payments , Banking
  • 17.12.2020 06:16 pm

There’s been a surge in Sovcombank customers aged 45 and older who opt to exclusively rely on a phone and mobile application for contactless payments. Three times as many customers from that age group use only contactless payment*, rising to 14% of the total number of the bank's card clients compared to just 5% two years ago.

Mobile app audience is rapidly growing older

Further, the average age of Sovcombank customers who only pay with a smartphone is rising. As of October 2020, it was 39 years, compared to an average age of 35 in October 2018. The largest growth in “digital” customers was in clients aged 45+, a group whose share increased by 18% in two years.

Another Sovcombank client demographic demonstrating significant growth is young people in the bank card segment since 2018. The drivers of this growth are inclusion of shops popular among this demographic to the Halva's network of partners and more favourable cashback conditions for payments made via NFC*-enabled smartphones.

Married adult women are most active "digital" clients

Women are the key factor behind the growth in older customers using solely contactless payments. In 2018, 53% of "digital" clients were men, a share that dropped to 49% in 2020 as the share of women increased to 51%. In parallel, the share of married people who opt for contactless payments exclusively has grown to 77% of married men and 71% of married women, up from 71% of married men and 66% of married women.

Northernmost regions of Russia are leaders in digitalisation of bank clients

Arkhangelsk, Murmansk, Magadan regions and the Komi Republic are the regions showing the largest spread of clients choosing a contactless payment method using NFC. Moscow remains in the top five, but the Arkhangelsk region replaced Moscow at the top of the list of regions with the highest concentration of customers who prefer contactless payment. In Arkhangelsk Oblast, a quarter of all active Sovcombank's clients only use a smartphone to purchase goods and transfer money.

The regions with highest concentration of customers who prefer contactless payment:

1.     Arkhangelsk Oblast (24%);

2.     Moscow (22%);

3.     Komi Republic (19%);

4.     Murmansk Oblast (19%);

5.     Magadan Oblast (18%).



* Customers who, in the past 12 months, have made over 98 per cent of card transactions using an NFC-enabled smartphone or a mobile application.

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