Cost-Effective Innovations for customers are required to capitalize on the number of non-cash payment transactions which are expected to reach around 128 Billion by 2025: Ken Research

Russia Payment Services Market Outlook to 2025- Breaking New Grounds through Alternative Payment Systems such as Contactless Payments albeit challenging profitability of Incumbent firms

Key Trends
• B2B payments are an emerging opportunity for existing firms due to scope in addressing operating inefficiencies and minting higher revenue per transaction. The POS Terminals market is anticipated to be a leading B2B segment, generating higher value proposition for retail merchants and payment service providers. Digital Credit at POS is still a niche segment and can be quickly exploited by Fintech companies to expand their customer reach across Russia.
• Revenue growth for market players will become dependent on the number of transactions rather than the value of transactions, in the wake of adopting fixed pay per transaction models. A decline in the margins is also expected which would shift the focus of the firms to cost controlling.
• Cross-border payments coupled with stable foreign exchange rates are expected to surge to CIS and Non-CIS countries posing a good option for operating firms to diversify their revenue streams. The aim of a payment service provider should become an Omni-channel provider of payment service solutions to the users.

Reduction in Commission Charges: High commission charges levied by issuers and payment system operators act as a barrier for merchants, especially small turnover merchants in accepting non-cash payments and stimulate them to accept cash payments. Such commission charges are anticipated to reduce in the coming years, owing to expected government regulations and increasing competition among market players.
Demographic and Economic Outlook is Stable and Positive: The payments industry is largely dependent on the socio-demographic and economic indicators of the country including real income growth, GDP growth rate, number of self-employed people, distribution of population across age structures and geographies, spending habits of consumers, internet penetration, penetration of smartphones and cost of internet. A positive outlook on these fronts allows the firms to undertake high cost innovations and beat the long gestation period with ease. With an average nominal GDP growth rate of more than 7.0% along with a balanced international trade and investment scenario, the industry is set to experience breakthrough innovations and segment-focused strategic partnerships.

Analysts at Ken Research in their latest publication “(Russia Payment Services Market Outlook to 2025- By ATM Terminals Market, POS Terminals, Payment Cards, E-Money and Payment Aggregators Segment)” believe that there would be a continuous pressure on the margins and profitability of the incumbent firms as more Big Tech Companies are expected to enter the industry space. In order to capitalize on the growth in number of non-cash payments by around 21.3% during 2018-2025, the firms should explore potential strategic partnerships with Big Tech companies to offer higher value proposition to the customers while maintaining their business sustainability. The introduction of white label schemes and changing role of intermediaries is expected to play a vital role for the payment services industry of Russia in the next few years.

Key Segments Covered
• Russia Payment Services Market
 By Cash and Non-Cash Payments
• Russia Terminals Market (Banking ATMs)
 By Transaction Type (Financial and Non-Financial)
 By Geographical Location (Federal Districts wise)
• Russia Terminals Market (POS Terminals)
 By End-User (Retail, Delivery, Restaurant, Healthcare and Others)
 By Type of Devices (Fixed and Mobile)
 By Geographical Location (Federal Districts wise)
• Russia Payment Cards Market
 By Type of Cards (Debit and Credit Cards)
 By Type of Cardholder (Individual and Legal Entities)
 By Type of Transactions (Cash Withdrawals, Payment Transactions and Others)
• Russia Payment Aggregators Market
 By Type of Merchant Services (Payment Aggregator, Payment Gateways and Particular Instruments)

 Time Period Captured in the Report:
 Historical Period – 2013-2018
 Forecast Period – 2018-2025

 Companies Covered:
 ATM Terminals Market
 NCR Corporation
 Diebold Nixdorf
 Nautilus Hyosung
 Oki
 Indemit,
 Lanit ATM,
 MultiCarta
 Ridgast
 POS Terminals Market
 Ingenico
 Verifone
 PAX
 E-Money Operators
 Yandex.Money
 QIWI
 WebMoney
 PayPal
 Payment Aggregators Market
 Yandex.Checkout
 Robokassa
 UnitPay
 Payeer
 PayAnyWay
 Payment Cards Market
 VISA
 MasterCard
 NSPK,
 Sberbank
 Alfa Bank
 VTB 24
 Novacard
 Rosan Finance
 Alioth

Key Topics Covered in the Report
• Demographic Analysis of Russia
• Consumer Profile in Russia.
• Economic Analysis of Russia
• Shadow Economy of Russia
• Consumer Adaptability of Non-Cash Payments Russia
• Payment Infrastructure of Non-Cash Payments Russia
• Ken Research Framework of Payments Landscape.
• Cross Comparison of Russia with other developed, developing and emerging economies
• Russia ATM Terminals Market Overview, Market Size and Introduction
• Competitive Landscape of ATM Manufacturers and ATM Management Companies
• Future Outlook on ATM Terminals industry by Number of ATM Terminals and Number of Transactions
• Russia POS Terminals Market Overview, Genesis and Size
• Competitive Landscape of POS Terminal Manufacturers including Market share and Company Profiles
• Future Outlook of POS Terminals; By Installed base, Number of Transactions and By Type of Devices
• Russia Payment Cards Market Overview, Genesis and Market Size
• Card Holder Profile in Russia
• Competitive Landscape of Issuers and Payment System Operators in Payment Cards Market
• Snapshot on Card Manufacturing Companies
• Future Outlook of Payment Cards Industry; By Number of Users, By Number of Cards in Circulation, By Type of Cards and By Type of Transactions
• Russia E-Money Market Introduction, Overview and Genesis
• Company Profile of Yandex.Money, QIWI, WebMoney and PayPal
• Russia Payment Aggregator Market Introduction, Overview and Market Size
• Competitive Landscape of Major Players
• Company Profile of Yandex.Checkout, Robokassa, UnitPay, Payeer and PayAnyWay
• Future Outlook of Russia Payment Aggregator Market
• Analyst Recommendations for Russia Payment Services Market
• Suggested Strategies to ensure Business Sustainability

For more information, refer to below link:
https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/russia-payment-services-market/258601-93.html

Related Reports:
https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/india-payment-services-market-research-forecast-2023-/154993-93.html

https://www.kenresearch.ae/banking-financial-services-and-insurance/financial-services/russia-remittance-and-bill-payments-market/257747-93.html

https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/indonesia-domestic-and-international-remittance-market/257748-93.html

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Ken Research
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Ankur@kenresearch.com
+91-9015378249

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