Market Research Hub (MRH) has actively included a new research study titled Payments Landscape in Russia: Opportunities and Risks to 2022 to its wide online repository. The concerned market is discoursed based on a variety of market influential factors such as drivers, opportunities and restraints. This study tends to inform the readers about the current as well as future market scenarios extending up to the period until forecast period limit; 2022. In addition, a deep analysis of the competitive landscape, including prime market players is also enclosed in this report.
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Payments Landscape in Russia: Opportunities and Risks to 2022
GlobalDatas “Payments Landscape in Russia: Opportunities and Risks to 2022”, 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, direct debits, cash, and cards during the review-period (2014-18e).
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 (2018e-22f). 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.
This 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, direct debits, cash, and cards. It also, includes an overview of the country’s key alternative payment instruments.
– E-commerce market analysis.
– 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.
– A federal law signed by the Russian president in May 2017 mandated that all public sector employees and workers who receive welfare benefits from federal or state funds to migrate to Mir payment cards from July 1, 2018. To increase acceptance in international markets, these cards are now being issued as co-badged cards with American Express, JCB and Mastercard.
– Alternative payments are gradually gaining adoption in Russia. Consequently several players are entering this market to capitalize on its growth. Most recently, Google Pay – initially launched as Android Pay – was introduced to Russian customers in May 2017. This solution enables users to make in-app, in-store and online payments using the payment card details stored in the wallet. Several leading players are also present in the mobile payments space in Russia, including Samsung Pay, launched in September 2016, and Apple Pay, which was launched in October 2016. Yandex.Money, launched in 2002, is now one of the most popular payment solutions in Russia; as of December 2018, the solution serves around 46 million users.
– Contactless card usage in Russia is gradually on the rise, supported by a rise in consumer adoption and merchant acceptance of contactless payments during the Fifa World Cup. More specifically, Visa – which was the official payment service partner of Fifa in 2018 – enabled over 3,500 POS terminals in stadiums to accept contactless payments. According to data published by Visa in July 2018, over 50% of purchases made by Visa cardholders in the tournament venues were made through contactless technology, including cards and mobile apps. In addition, to boost contactless payments in 2018, Russian banks introduced contactless ATMs, which enabled users to make transactions via Apple Pay, Samsung Pay and Google Pay.
Table of Contents
Mobile Proximity Payments
Payments Infrastructure & Regulation
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