20:53 GMT06 June 2020
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    Sberbank CEO Herman Gref said that cash will increasingly become an obsolete mean of payment.

    MOSCOW (Sputnik) — Cash will gradually fall out of use, Russia's Sberbank CEO Herman Gref said on Wednesday.

    "[Cash] will increasingly become an obsolete mean of payment," Gref said.

    Decommissioning cash is a long process, he said, adding that cash willstill be used in the foreseeable future.

    In May, Gref said that in 2017 Sberbank will introduce voice-biometric recognition technologies to replace plastic cards.

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