PAYMENTS IN BELARUS
Belarus is a presidential republic with a bicameral Parliament (Natsionalnoye Sobranie) composed of the Chamber of Representatives and the Council of the Republic.
It is a member of the Commonwealth of Independent States (CIS), the Organisation for Democracy and Economic Development (GUAM) and the Organisation of the Black Sea Economic Cooperation (BSEC).
Having gained independence from what was the Soviet Union in 1990, Belarus is a founder member of the Russian-led Eurasian Economic Union, which was formalised in 2015. Belarus benefits from Russian support in the form of cheap energy and other subsidies which are unofficially estimated as equivalent to 15% of Belarus’s GNP.
Belarus has maintained state control over key industries, including banking, although a gradual process of privatisation is under way.
Unlike other countries in Eurasia, Belarus has shown no inclination in joining the European Union, but instead maintains a bilateral relationship, and Belarus participates in the Eastern Partnership and Baku Initiative, which are aimed at fostering discussions over trade, economic strategies and other issues of interest.
Political tensions between Belarus and neighbouring countries deepened in 2020 with the disputed 2020 presidential election, with sanctions being imposed on Belarus by the EU, Canada, the UK and the US, citing election interference and political oppression.
Although digital banking penetration remains low compared to the rest of the Eurasian region, internet penetration has risen sharply in Belarus in recent years, , while the mobile phone penetration was 123.86% as of 2020. Banks in Belarus have put digital channels at the centre of their growth strategies, while refocusing their branch networks to offload more transactions to online. In tandem with this, internationally-accepted mobile payment services like Apple Pay have been launched in Belarus.
The use of central bank digital currencies is an active area of development In Belarus, with the central bank encouraging initiatives making use of blockchain technology.
STATISTICAL KEY FIGURES FOR 2020 PROVIDED IN THIS PROFILE
• UPDATED: tables with card business data 2016-2020; growth rates: Y-o-Y, CAGR
• Population, Cards per Capita, Card Value per Capita
• Debit Cards, Credit/Delayed Debit Cards, Total Cards
• Card payments by number and by value, ATV per card, payments per card/year
• ATMs, POS terminals, ATMs/POS terminals per 1 million capita
• ATM withdrawals by number/by value, ATV per withdrawal, TXs per ATM/month
• POS payments by number/by value, ATV per POS payment, TXs per POS/month
• Internet Use, e-payment mix, B2C e-Commerce by value and growth rate
• Issued Card brands by individual major issuer bank
• Accepted card brands by individual major acquirer
• Drill down into the debit card use and credit cards use details
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Version 1.0 - last updated Wednesday 26th January 2022