Plastic cards vs cash: What Belarusians choose and why?

Plastic cards vs cash: What Belarusians choose and why?

There is a tendency to use non-cash settlements in a world and Belarus is no exception. Economists reduce cash payments to a minimum, as it is rather difficult to exchange large denominations in Europe and buy an expensive item in the USA when paying by cash. It is a way to restrain illegal incomes. There are a lot of ATMs in Belarus, but some people still withdraw salaries on the day of receipt.

Minsk residents:
Paying by cards is more convenient, as you don’t have to take small change with you. I pay on the Internet and in any shop without problems.

Dmitry Pertsovoy, sales office manager of development department of Bank processing center network:
Thanks to the National Bank of Republic of Belarus and to the banking system, non-cash payments are rapidly developing.

But people are reluctant to abandon cash.

Minsk residents:
I like to pay by cash more. I’m comfortable with using cash, even coins.

However, plastic cards cannot be used everywhere.

Maxim Slizh, CTV:
Let’s visit a market at weekend. We take only the plastic card. The first problem is public transport. We can’t pay by it there. So, we get a free ride.

But non-cash payments are economically advantageous for the country.

Valery Polkhovsky, financial analyst:
Money in cash compose less than 10% of all money. Non-cash money reduce expenditures for money supply maintenance. Because banknotes wear out less and are less demanded.
Transparence and safety are also advantages. All settlements are secure on the one hand and easy-to-monitor on the other.

Zhanna Kulakova, financial analyst:
It is easier to monitor non-cash money motion and to combat shadow economy.

Valery Polkhovsky:
I doubt that your stolen wallet or money would be returned back to you. But in the case with non-cash money, a bank checks who has withdrawn money and sees if that payment was authorized.

So we have gained the market and can’t by anything without cash money. Market is market. Lyliya Shvaiko is 80 years old. She began to use plastic cards when retired.

Liliya Shvaiko, resident of Liozno:
I pay by cash at a market, as no payment terminals are there.

Actually there are only a few terminals in the town.

Liozno residents:
ATMs are very popular and there are not a lot of them, so we always have queues in the bank. I think it's better to always have cash money.

Starting this year, all the trade and community services should have payment terminals.

Dmitry Pertsovoy:
We don’t know why sales outlets don’t use terminals. And consumers draw money and pay by cash.

Valery Polkhovsky:
You get a taxi and may pay by cash and by plastic card. I think that a passenger would like to pay by card, but a taxi driver wouldn’t like to get payments by card.

Sergey Yakutovich is a retail business department assistant manager. He possesses ten cards and welcomes non-cash payments.

Sergey Yakutovich:
The volume of non-cash payments is increasing year by year, which fosters the development of infrastructure. People don’t need to draw money on the day of getting salaries, as they may settle accounts, pay for public services sitting at their homes. It saves time. We figured out that 80% of all operations are made in non-cash variant.

It is up to people to decide which kind of payments to choose.

Maxim Slyzh:
Despite non-cash payments being really useful and that plastic cards save our time, sometimes we can’t buy anything using the cards.