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The Cards and Payments Industry in Russia: Emerging Trends and Opportunities to 2020

Published: May 25, 2016 | Pages: 63 | Publisher: Timetric | Industry: Financial Services | Report Format: Electronic (PDF)

Synopsis

Timetric’s '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 check payments, payment cards, cash transactions, direct debits and credit transfers during the review period (2011–2015).

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 Timetric’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.

Summary

Timetric’s 'The Cards and Payments Industry in Russia: Emerging Trends and Opportunities to 2020' 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 transactions, checks and payment cards, and 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
- Comprehensive analysis of consumer attitudes and buying preferences for cards
- The competitive landscape in the Russian cards and payments industry

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.

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.

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.
 Table of Content

1 Definitions and Methodology
1.1 Definitions
1.2 Methodology

2 Key Facts and Events

3 Executive Summary

4 Payment Instruments
4.1 Current Payment Environment

5 E-Commerce
5.1 E-Commerce Market Analysis

6 Alternative Payments
6.1 Alternative Payment Instruments
6.1.1 Yandex.Money
6.1.2 WebMoney
6.1.3 Visa Qiwi Wallet
6.1.4 Moneta
6.1.5 PayPal
6.1.6 MasterPass

7 Regulations in the Cards and Payments Industry
7.1 Regulatory Framework
7.1.1 Minimum authorized and equity capital requirement
7.1.2 Rules pertaining to foreign participation
7.1.3 Capital adequacy requirements
7.2 Anti-Money Laundering (AML)
7.3 Foreign Direct Investment (FDI) Regulations

8 Analysis of Cards and Payments Industry Drivers
8.1 Demographic Drivers
8.2 Economic Drivers
8.3 Infrastructure Drivers
8.4 Business Drivers

9 Market Segmentation and New Product Launches
9.1 Market Segmentation and Targeting
9.1.1 Consumer cards
9.1.2 Commercial cards
9.2 New Product Launches

10 Payment Cards
10.1 Payment Cards Market Analysis
10.1.1 Volume and value of payment card transactions by type

11 Debit Cards
11.1 Debit Card Market Analysis
11.1.1 Turnover per debit card and transaction values by channel
11.1.2 Debit card scheme and issuer shares in terms of transaction value
11.1.3 Debit cards comparison

12 Credit Cards
12.1 Credit Card Market Analysis
12.1.1 Turnover per credit card and transaction values by channel
12.1.2 Credit card scheme and issuer shares in terms of transaction values
12.1.3 Credit cards comparison

13 Commercial Credit Cards
13.1 Commercial Credit Card Market Analysis
13.1.1 Commercial credit cards comparison

14 Card Issuers
14.1 Sberbank
14.2 VTB24
14.3 Russian Standard Bank
14.4 OTP Bank
14.5 Raiffeisen Bank

15 Prepaid Cards
15.1 Prepaid Card Market Analysis
15.1.1 Prepaid cards comparison

16 Merchant Acquiring
16.1 Merchant Acquiring Market Analysis

17 Appendix
17.1 Tables
17.2 Contact Timetric
17.3 About Timetric
17.4 Timetric’s Services
17.5 Disclaimer
List of Tables

Table 1: Key Definitions
Table 2: Annual Average Exchange Rate
Table 3: Russia - Key Facts, 2015
Table 4: Regional Benchmarking of Russian Payment Cards, 2015
Table 5: Russia - Mode of Entry of Foreign Banks
Table 6: Cards for High-Income Consumers, 2016
Table 7: Cards for Travelers, 2016
Table 8: Cards for Shoppers, 2016
Table 9: Cards for Students and Young People, 2016
Table 10: Commercial Cards Comparison and Key Features, 2016
Table 11: Russia - New Product Launches
Table 12: Russia - Debit Card Comparisons and Key Features, 2016
Table 13: Russia - Gold Credit Cards Comparison and Key Features, 2016
Table 14: Russia - Premium Credit Cards Comparison and Key Features, 2016
Table 15: Russia - Commercial Credit Card Comparisons and Key Features, 2016
Table 16: Russia - Prepaid Card Comparisons and Key Features, 2016
Table 17: Russia - Payment Instrument Transaction Values (RUB Billion), 2011-2015
Table 18: Russia - Payment Instrument Transaction Values (US$ Billion), 2011-2015
Table 19: Russia - Payment Instrument Transaction Volumes (Million), 2011-2015
Table 20: Russia - Number of Payment Cards in Circulation by Type (Million), 2011-2020
Table 21: Russia - Volume of Payment Card Transactions by Type (Million), 2011-2020
Table 22: Russia - Value of Payment Card Transactions by Type (RUB Billion), 2011-2020
Table 23: Russia - Value of Payment Card Transactions by Type (US$ Billion), 2011-2020
Table 24: Russia - Number of Debit Cards in Circulation (Million), 2011-2020
Table 25: Russia - Debit Card Transaction Volumes and Frequency by Channel, 2011-2020
Table 26: Russia - Debit Card Total and Average Transaction Values by Channel, 2011-2020
Table 27: Russia - Debit Card Total and Average Transaction Values by Channel, 2011-2020
Table 28: Russia - Number of Debit Cards in Circulation by Scheme (Million), 2011-2015
Table 29: Russia - Debit Card Transaction Values by Scheme (RUB Billion), 2011-2015
Table 30: Russia - Debit Card Transaction Values by Scheme (US$ Billion), 2011-2015
Table 31: Russia - Debit Card Transaction Values by Issuer (RUB Billion), 2011-2015
Table 32: Russia - Debit Card Transaction Values by Issuer (US$ Billion), 2011-2015
Table 33: Russia - Number of Credit Cards in Circulation (Million), 2011-2020
Table 34: Russia - Credit Card Transaction Volumes and Frequency by Channel, 2011-2020
Table 35: Russia - Credit Card Total and Average Transaction Values by Channel, 2011-2020
Table 36: Russia - Credit Card Total and Average Transaction Values by Channel, 2011-2020
Table 37: Russia - Number of Credit Cards in Circulation by Scheme (Million), 2011-2015
Table 38: Russia - Credit Card Transaction Values by Scheme (RUB Billion), 2011-2015
Table 39: Russia - Credit Card Transaction Values by Scheme (US$ Billion), 2011-2015
Table 40: Russia - Credit Card Transaction Values by Issuer (RUB Billion), 2011-2015
Table 41: Russia - Credit Card Transaction Values by Issuer (US$ Billion), 2011-2015
Table 42: Russia - Personal and Commercial Credit Card Transaction Volumes (Million), 2011-2020
Table 43: Russia - Personal and Commercial Credit Card Transaction Values (RUB Billion), 2011-2020
Table 44: Russia - Personal and Commercial Credit Card Transaction Values (US$ Billion), 2011-2020
Table 45: Russia - Number of Commercial Credit Cards in Circulation (Thousand), 2011-2020
Table 46: Russia - Commercial Credit Card Transaction Values (RUB Billion), 2011-2020
Table 47: Russia - Commercial Credit Card Transaction Values (US$ Billion), 2011-2020
Table 48: Russia - Commercial Credit Card Transaction Volumes (Million), 2011-2020
Table 49: Russia - Number of Prepaid Cards in Circulation (Million), 2011-2020
Table 50: Russia - Prepaid Card Transaction Values (RUB Billion), 2011-2020
Table 51: Russia - Prepaid Card Transaction Values (US$ Billion), 2011-2020
Table 52: Russia - Merchant Acquiring Transaction Volume by Card Type (Million), 2010-2019
Table 53: Russia - Merchant Acquiring Transaction Value by Card Type (RUB Trillion), 2011-2020
Table 54: Russia - Merchant Acquiring Transaction Value by Card Type (US$ Billion), 2011-2020
Table 55: Russia - Acquirers’ Transaction Volume (Million), 2011-2015
Table 56: Russia - Acquirers’ Transaction Value (RUB Billion), 2011-2015
Table 57: Russia - Acquirers’ Transaction Value (US$ Billion), 2011-2015
Table 58: Russia - Retail Outlets and Card Accepting Merchants (Thousand), 2011-2020 


List of Figures

Figure 1: Russia - Payment Instrument Shares by Transaction Value (%), 2011 vs 2015
Figure 2: Russia - Payment Instrument Shares by Transaction Volume (%), 2011 vs 2015
Figure 3: Russia - E-Commerce Value (US$ Billion) and Payment Types (%)
Figure 4: Russia - Total Population and Structure
Figure 5: Russia - Economic Indicators
Figure 6: Russia - Number of ATMs and POS Terminals
Figure 7: Russia - Real Household Consumption and Outbound Tourist Expenditure
Figure 8: Russia - Cards and Payments Industry Segmentation by Card Type, 2016
Figure 9: Russia - Growth in Payment Card Transaction Values and Number of Cards in Circulation by Type, 2011-2020
Figure 10: Russia - Volume and Value of Payment Card Transactions by Type (%), 2011-2020
Figure 11: Russia - Debit Card Penetration and Number of Debit Cards in Circulation, 2011-2020
Figure 12: Russia - Debit Card, Average Interchange Fees: Intra-Network Transactions (%), 2011-2014
Figure 13: Russia - Debit Card, Average Merchant Service Charge: Domestic Transactions (%), 2011-2019
Figure 14: Russia - Turnover Per Debit Card and Transaction Values by Channel, 2011-2020
Figure 15: Russia - Debit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2015
Figure 16: Russia - Credit Card Penetration and Number of Credit Cards in Circulation, 2011-2020
Figure 17: Russia - Credit Card, Average Interchange Fees: Intra-Network Transactions (%), 2011-2014
Figure 18: Russia - Credit Card, Average Merchant Service Charge: Domestic Transactions (%), 2011-2019
Figure 19: Russia - Turnover Per Credit Card and Transaction Values by Channel, 2011-2020
Figure 20: Russia - Credit Card Scheme and Issuer Shares in Terms of Transaction Values (%), 2015
Figure 21: Russia - Commercial vs Personal Credit Card, Transaction Volume and Value (%), 2011-2020
Figure 22: Russia - Number of Commercial Credit Cards, Transaction Value and Volume, 2011-2020
Figure 23: Russia - Number of Prepaid Cards in Circulation and Transaction Values, 2011-2020
Figure 24: Russia - Merchant Acquiring Transaction Volume and Value, 2011-2020
Figure 25: Russia - Acquirers’ Market Share in Terms of Transaction Volume and Value (%), 2015
Figure 26: Russia - Retail Outlets and Card Accepting Merchants (Thousand), 2011-2020

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