Minority of the public stands firm in their preference for physical currency over digital alternatives
May 2, 22:12 | City Beat
Nizhny Novgorod Residents Stand Firm on Cash Use
It seems that Nizhny Novgorod dwellers aren't keen on giving up good ol' cash just yet.
Only a fifth (20%) of locals expressed a readiness to ditch cash in favor of card or smartphone payments, according to a recent survey. On the flip side, a whopping 74% voiced their opposition to a cashless society.
Among the key reasons they gave for holding onto greenbacks, residents cited:
- The scarcity of cashless payment options in select locations,
- A personal fondness for handling cold, hard cash,
- Concerns about government interference in personal spending,
- Worries about being left high and dry with a dead device or shaky connection.
The survey was conducted between April 21 and 29, 2025.
Notably, males are more gung-ho about going cashless, while those aged 35 to 45 demonstrate the strongest support for electronic payments (18%). Interestingly, the acceptance of cashless transactions is lower among young people (14%) and the elderly (13%).
An examination of the data also suggests income level plays a role in attitudes towards cashless transactions. Among Nizhny Novgorodians with a monthly income of 100,000 rubles or more, 17% favor electronic payments. In contrast, among those earning less, the figure dips to 12%.
Insights:
In today's digital world, there's an upward trend in cashless payments globally, driven by technological advancements and government initiatives aimed at minimizing cash transactions. Despite this trend, certain demographic groups, including older residents and those with lower incomes, may display resistance due to lack of trust in digital systems, concerns about financial security, or lack of familiarity with technology.
For a comprehensive understanding of attitudes towards cashless payments in Nizhny Novgorod, it's important to conduct surveys specifically focused on this region. Based on general trends, one might expect Nizhny Novgorod's acceptance of electronic payments to be higher due to better infrastructure and technological access compared to rural areas. However, more data is needed to draw definitive conclusions.
In the context of the city of Nizhny Novgorod, the survey results indicate that while there is a global movement towards cashless finance in business amidst technological advancements, a significant majority (74%) of its residents oppose a cashless society, with concerns about limited cashless payment options, government interference, and reliable technology being key reasons. Interestingly, males and those aged 35 to 45 are more supportive of electronic payments, while acceptance of cashless transactions is lower among young people and the elderly. Additionally, lower-income residents show less enthusiasm for electronic payments compared to higher-income residents.
