Press release
The Cards and Payments Industry in Russia: Emerging trends and opportunities to 2020
Description
GlobalDatas "The Cards and Payments Industry in Russia: Emerging trends and opportunities to 2020" report provides detailed analysis of market trends in the Russian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, payment cards, cash, direct debits, and cheques during the review-period (2012-16e).
The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2016-20f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.
The report brings together GlobalDatas research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.
The report provides top-level market analysis, information and insights into the Russian cards and payments industry, including -
- Current and forecast values for each market in the Russian cards and payments industry, including debit, and credit cards.
- Detailed insights into payment instruments including credit transfers, cash, cheques, direct debit, and payment cards. It also, includes an overview of the country's key alternative payment instruments.
- E-commerce market analysis and payment methods.
- Analysis of various market drivers and regulations governing the Russian cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, and credit cards.
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Scope
- Alternative payments are gaining prominence in Russia with the launch of global payment solutions including Apple Pay, Android Pay, Samsung Pay, and Masterpass. Google launched Android Pay in Russia in May 2017. The solution enables users to make in-app, in-store, and online payments by storing debit, credit, loyalty, and gift cards on the wallet. The solution is now supported by 15 banks. Apple and Samsung previously launched their payment solutions Apple Pay and Samsung Pay in the country in October 2016. And in 2014, Mastercard launched the Masterpass digital wallet in Russia. Masterpass users can shop online without providing payment and shipping information with every purchase. The service allows merchants a faster and easier way to process payments, and helps decrease checkout abandon rates.
- To disrupt the debit card market, which is currently being dominated by international scheme providers Visa and Mastercard, the Russian government launched the Mir national payment card in December 2015 under the NPCS. 376 banks (including all of the countrys major banks) have joined the system and started to issue these cards. As of April 2017, more than 5 million Mir national payment cards had already been issued in the country. The escalating number of Mir cards is anticipated to pose serious competition to Visa and Mastercard in the long run.
- To provide acceptance of international cards in Russia, domestic merchant acquirers have entered into agreement with international schemes. For instance, the leading Russian acquirer Sberbank partnered with Chinese scheme UnionPay International in May 2017, allowing Asia Pacific and China tourists to make payments with UnionPay cards at Sberbanks merchant network in Russia. In the same month, Sberbank entered into a similar agreement with JCB International to allow merchants to accept payments with JCB cards by 2018.
Reasons to buy
- Make strategic business decisions, using top-level historic and forecast market data, related to the Russian cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Russian cards and payments industry.
- Assess the competitive dynamics in the Russian cards and payments industry.
- Gain insights into marketing strategies used for various card types in Russia.
- Gain insights into key regulations governing the Russian cards and payments industry.
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