Approximately eighty-five percent of the populace have no objections to abandoning physical currency.
May 2, 23:12 – Street Talk
Cash Still Kings for Nizhny Novgorod Residents
Contrary to the cashless future some envision, the folks of Nizhny Novgorod ain't ready to ditch good old green backs just yet.
A whopping 85% of locals quizzed in a survey couldn't fathom life without hard cash.
Common reasons for their stubborn attachment to cold, hard cash include:
- Lack of cashless payment options in certain spots,
- Ol' fashioned love for handling dough,
- Fears over government surveillance of every penny spent,
- Worries about being stranded with no signal or faulty tech when push comes to shove.
Only 15% are open to going full electronic, relying on cards or smartphones for transactions.
Interestingly, men seem to be leading the charge towards a cashless world. And it's the 35-45 age group that's showing the most support for digital payments, at 18%.
Income level seems to play a role, too. High rollers (monthly income 100k and above) are more likely to embrace electronic transactions, with 17% pledging their allegiance to plastic and pixels. In contrast, the less wealthy lag behind at 12%.
(The survey was grilled from April 21 to 29, 2025)
But story's ain't the same worldwide. Cashless transactions are taking over self-service retail globally, with credit cards and digital wallets being the preferred pick for micropayments (like snacks from vending machines). QR-based contactless systems are on the rise, with platforms gathering over 100 million users by April 2025.
Regional differences, though, are a thing. Asia-Pacific's all about QR codes and digital wallets, driven by smartphone adoption and innovative strategies. Africa's replacing expensive card systems with mobile payments for financial inclusion. Europe's seeing steady growth in contactless payments (like Apple Pay, Google Pay) thanks to NFC infrastructure and regulations. North America's jumping on the biometric authentication bandwagon in mobile wallets.
As for Russia, it might follow emerging market trends, like:
- Adopting central bank digital currencies (CBDCs) and mobile payment solutions to reduce reliance on cash.
- Expanding contactless payment infrastructure like Europe.
- Employing innovative biometric solutions (like palm-payment technology) to beef up security.
The big question, though, is whether local data will be forthcoming to give us a clearer picture. Stay tuned!
Sources: [1], [2], [3], [4], [5]
- In contrast to some predictions, a survey in Nizhny Novgorod in 2025 showed that only 15% of residents advocated for a fully cashless personal-finance system, while a whopping 85% couldn't imagine life without cash.
- The cashless indicator for Nizhny Novgorod residents is much lower than the global trend, particularly in self-service retail, where cashless transactions are on the rise, with digital wallets and credit cards being the preferred choice.
- Interestingly, the survey found that income level seems to play a role in the adoption of cashless payments, with high rollers (monthly income 100k and above) more likely to embrace electronic transactions than the less wealthy.
- In light of these trends, Russia might follow emerging market paths by adopting central bank digital currencies, expanding contactless payment infrastructure, and employing innovative biometric solutions to beef up security, but local data might be needed to give a clearer picture.
