Reaching the finite level of access to financial services governments and financial institutions start redefining their goals towards further improvements in the consumers’ well-being and the state’s economy due to financial services. Cashless payments is one of the most prominent financial services that increases the benefits for all economy participants. Cashless instruments have recently become even more relevant due to the COVID-19 pandemic. The aim of this research is to determine which factors affect the share of cashless payments in consumer spending. The analysis uses a representative sample of 1600 Russian consumers collected in 2021. The results show that those who perceive cashless payment as more beneficial, are from the highest spending group, and have a card with a loyalty program are more likely to have a share of cashless payments in spending of more than 50%. The positive effect of the pandemic after controlling for benefits disappeared. From a practical point of view, the results of this work emphasize a benefit- based approach to stimulate the use of payment instruments, which can be used both within the product strategies of financial service providers and by the regulator in the development of measures to stimulate financial inclusion beyond access.