Cash Still King in Nizhny Novgorod: Poll Shows Majority Against Going Cashless
A mere 15% of the populace remains steadfast in their intention to forego physical currency.
It seems that the residents of Nizhny Novgorod are holding onto their greenbacks tight. A recent survey reveals that a hefty 74% of people in the city are not on board with the idea of completely phasing out cash in favor of digital payments.
Only a scant 15% of respondents expressed a willingness to make the switch to cashless payments exclusively, using cards or smartphones. As for the remaining 11%, they're open to a hybrid system – using both cash and digital methods.
The main reasons behind this cash-loving attitude are manifold. Top concerns include:
- Limited access to cashless payment options in certain areas
- Personal preference for tangible money
- Worries about governmental control over expenses
- Fear of getting stuck without a means to pay due to connection issues or device malfunctions
Interestingly, men are more likely than women to embrace a cashless future, with the age group of 35-45 being the most supportive of electronic payments (18% compared to 14% for youngsters and 13% for the elder contingent).
The income level also plays a role in shaping opinions on cashless payments. Among high earners (those raking in 100,000 rubles or more per month), the percentage of supporters of digital payments stands at 17%, whereas among those with lower incomes, it drops to 12%.
Nevertheless, it's worth mentioning that Russia's cashless revolution is in full swing. Despite the hesitation in Nizhny Novgorod, there's a growing push for digital payment systems across the nation. However, as of now, there aren't any plans to completely abandon cash in the city or the country at large.
That being said, if you're having doubts about ditching your wallet for your phone, you're not alone. A healthy skepticism towards digital payments seems to be the prevailing sentiment here in Nizhny Novgorod. So, keep your cash handy, folks, because for the time being, it's still an essential part of our lives.
(The survey was conducted from April 21 to 29, 2025).
- The survey in Nizhny Novgorod showed that 74% of people advocate for maintaining cash over a completely cashless system.
- Although men and people aged 35-45 are more likely to favor cashless payments, the income level also impacts views, with high earners showing higher support.
- In contrast to the push for digital payment systems nationwide, Nizhny Novgorod currently has no plans to abandon cash completely.
- The city's financial sector, as well as businesses, should take into account the citizens' preference for cash when considering the adoption of cashless technology.
