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(Medical-NewsWire.com, August 27, 2016 ) It provides values and volumes for a number of key performance indicators in the industry, including check payments, payment cards, cash transactions, direct debits and credit transfers during the review period (2011–2015).
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The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (2016–2020). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.
The report brings together Publisher’s 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.
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Report Scope
This report provides a comprehensive analysis of the Russian cards and payments industry.
It provides current values for the Russian cards and payments industry for 2015, and forecast figures to 2020.
It details the different demographic, economic, infrastructural and business drivers affecting the Russian cards and payments industry.
It outlines the current regulatory framework in the industry.
It details marketing strategies used by various banks and other institutions.
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Key Highlights
Following the invasion of Crimea on March 18, 2014, the US government imposed sanctions against Russia in March 2014. Consequently, Visa and MasterCard stopped processing card payments in the country. To counteract this move, the Russian government launched the National Payment Card System (NPCS) on April 1, 2014, followed by the Mir national payment card in December 2015. The Russian government plans to issue Mir cards on a large scale in 2016, and promote the cards among government employees. A total of 35 banks have expressed an interest in issuing Mir cards, with seven already issuing them during the pilot.
The uptake of alternative payments among Russian consumers is gaining traction as a result of the availability of options such as Yandex.Money, WebMoney, Moneta and PayPal. Banks and payment service providers are also investing in offering customers a choice of payment option, whether in-store, at home or mobile. Most recently in August 2015, Visa and Russian payment service provider Qiwi launched the Visa Qiwi Wallet. Apart from making payments, the co-branded digital wallet can also be used to receive and transfer money worldwide. Visa Qiwi Wallet accounts can be topped up at 100,000 Qiwi kiosks throughout Russia, by linking to a bank card or mobile phone account. This initiative is expected to further shift consumer focus on alternative payments.
Contactless technology is expected to gain prominence among Russian consumers. Banks and payment service providers are also keen to promote contactless technology, and are launching new services to increase its uptake. The latest of these is the launch of the Visa Qiwi Wallet, which incorporates Visa’s payWave contactless technology, in August 2015. In June 2014, Russia Standard Bank entered into an agreement with Samsung Electronics and MasterCard to launch a contactless payment service for NFC-enabled Samsung smart phones. As part of the agreement, users of Samsung Galaxy S4 and Samsung Galaxy Note 3 devices can make contactless mobile payments (m-payments) using MasterCard’s PayPass technology. These initiatives are anticipated to provide a push to contactless payments in the country.
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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Priya Sisodia
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Source: EmailWire.Com 
Source: EmailWire.com
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