Cross-border payment system SWIFT is not used as often in Russia as domestic systems BRPS or NSD - although user numbers declined for all three systems. The differences are likely caused by the purpose of the different systems: SWIFT, for example, deals with (cross-border) financial information exchange. It makes money transfers between financial institutions possible by way of transmitting a message that announces an impending transactions. BRPS or the Bank of Russia Payment System, however, is a system that handles payment settlements - or the actual money transfer. Russia does have its own domestic messaging system like SWIFT - called SPFS - but no concrete figures are provided for this system.
Number of users of different domestic and cross-border elements in Russia's payment system from 2012 to 2020
The source does not specify which type of SWIFT message - FIN, InterAct or FileAct - it covers, only that it shows "information on the flows of SWIFT messages supporting the payment industry".
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Bank for International Settlements. (January 10, 2022). Number of users of different domestic and cross-border elements in Russia's payment system from 2012 to 2020 [Graph]. In Statista. Retrieved November 26, 2024, from https://www.statista.com/statistics/1293359/user-count-of-different-payment-systems-in-russia/
Bank for International Settlements. "Number of users of different domestic and cross-border elements in Russia's payment system from 2012 to 2020." Chart. January 10, 2022. Statista. Accessed November 26, 2024. https://www.statista.com/statistics/1293359/user-count-of-different-payment-systems-in-russia/
Bank for International Settlements. (2022). Number of users of different domestic and cross-border elements in Russia's payment system from 2012 to 2020. Statista. Statista Inc.. Accessed: November 26, 2024. https://www.statista.com/statistics/1293359/user-count-of-different-payment-systems-in-russia/
Bank for International Settlements. "Number of Users of Different Domestic and Cross-border Elements in Russia's Payment System from 2012 to 2020." Statista, Statista Inc., 10 Jan 2022, https://www.statista.com/statistics/1293359/user-count-of-different-payment-systems-in-russia/
Bank for International Settlements, Number of users of different domestic and cross-border elements in Russia's payment system from 2012 to 2020 Statista, https://www.statista.com/statistics/1293359/user-count-of-different-payment-systems-in-russia/ (last visited November 26, 2024)
Number of users of different domestic and cross-border elements in Russia's payment system from 2012 to 2020 [Graph], Bank for International Settlements, January 10, 2022. [Online]. Available: https://www.statista.com/statistics/1293359/user-count-of-different-payment-systems-in-russia/
