Market Research Reports, Inc. (www.marketresearchreports.com): MarketResearchReports.com: Russia's Cards and Payments Industry, New Report Launched
(M2 PressWIRE Via Acquire Media NewsEdge) Market Research Reports, Inc. has announced the addition of "Russia's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape" research report to their offering.
The Russian card payments channel grew substantially both in volume and value terms during the review period. In terms of total cards volume, the channel grew at a CAGR of 19.70% and is expected to grow at a CAGR of 7.00% over the forecast period. In value terms, the card payments channel increased from RUB8.8 trillion (US$354.6 billion) in 2008 to RUB21.8 trillion (US$700.8 billion) in 2012, at a CAGR of 25.39%. The value is expected to reach RUB43.9 trillion (US$1.4 trillion) in 2017, growing at a CAGR of 13.19% over the forecast period. Dominating the card payments channel in terms of volume are debit cards, with a 65.7% share in 2012, followed by prepaid and credit cards with respective shares of 25.5% and 8.7%.
In 2010, the Bank of Russia (BoR) continued its work with credit institutions and other organizations that operate payment systems and provide payment infrastructure services, with a view to developing the national system in line with international standards. The primary objective of the BoR to develop and improve its payment system is to minimize associated risks whilst ensuring its efficient and smooth operation. As a part of a new national payment system, the Ministry for Economic Development has approved a plan to launch the Universal Electronic Card (UEC) for all Russian citizens. The UEC is intended to eventually replace all local, regional, and national forms of ID, and will serve as a combined electronic ID, driver's license, car insurance certificate, and bank card and migration document, among other possible functions. The card will be used as a complete communication tool between cardholders and the government. The government and the BoR introduced the UEC in January 2013 on a voluntary basis, and the number of cards in circulation had reached 10,000 by March 2013. The Russian government has also envisaged setting up application points at post offices, banks and commercial centers, amongst other locations in the country.
Inquiry for more information visit: http://www.marketresearchreports.com/timetric/russias-cards-and-payments-industry-emerging-opportunities-trends-size-drivers-strategies
The report provides top-level market analysis, information and insights on Russia's cards and payments industry, including:
- Current and forecast values for each category of Russia's cards and payments industry, including debit cards, credit cards and prepaid cards
- Comprehensive analysis of the industry's market attractiveness and future growth areas
- Analysis of various market drivers and regulations governing Russia's cards and payments industry
- Detailed analysis of the marketing strategies adopted for selling debit, credit and prepaid cards used by banks and other institutions in the market
- Comprehensive analysis of consumer attitudes and buying preferences for cards
- The competitive landscape of Russia's cards and payments industry
- This report provides a comprehensive analysis of Russia's cards and payments industry.
- It provides current values for Russia's cards and payments industry for 2012, and forecast figures for 2017.
- It details the different economic, infrastructural and business drivers affecting Russia's cards and payments industry.
- It outlines the current regulatory framework in the industry.
- It details the marketing strategies used by various banks and other institutions.
- It profiles the major banks in Russia's cards and payments industry.
Reasons To Buy
- Make strategic business decisions using top-level historic and forecast market data related to Russia's cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities within Russia's cards and payments industry.
- Assess the competitive dynamics in Russia's cards and payments industry.
- Gain insights in to the marketing strategies used for selling various card types in Russia.
- Gain insights into key regulations governing Russia's cards and payments industry.
- The Russian card payments channel demonstrated significant growth during the review period (2008-2012) at a compound annual growth rate (CAGR) of 19.70% to reach 257.1 million cards in 2012. Key growth drivers include increased annual disposable income, the development of online shopping, investment in the banking infrastructure and raised consumer awareness about the benefits of using payment cards.
- Russian banks expanded their networks of automatic teller machines (ATMs) during the review period to develop business throughout the country. The number of ATMs installed increased from 75,018 in 2008 to 171,909 in 2012, at a CAGR of 23.04% and the number of POS terminals in Russia grew at a review-period CAGR of 20.17%, rising from 333,247 in 2008 to 695,023 in 2012.
- With competitive pressures in the Russian card payments category, banks and issuers are investing heavily in marketing and pricing strategies with the aim of attracting larger customer bases. Incentives offered by banks include discounts in retail outlets and restaurants, reward points, increasing daily limits for cash withdrawals, and insurance cover. Within their marketing strategies, banks are segmenting their customer bases to maximize the potential of expanding their market shares.
- To improve the card payment system, banks in Russia began using NFC technology. The contactless payment system has gained momentum in the country over the past two years. Since then, Mobile Telesystems (MTS), a leading telecommunication operator, introduced contactless payment facilties in Lukoil petrol stations in Perm and the Moscow subway in 2010, followed by Megafon in 2011, which launched NFC payments in the St. Petersburg subway. The spread of contactless terminals in public transport networks enhanced their use by daily commuters. The contactless-enabled ticket vending machines have been initiated with the spread to the transport networks of Warsaw. Contactless ticketing machines were installed in 2012 for the Uefa Euro 2012 football championship. Payment terminals were installed in buses and trams, and were designed to accept payments up to US$15.
Spanning over 94 pages, 48 tables and 54 figures "Russia's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape" report covering the Analysis of Market Environment, Key Trends and Drivers, Cards and Payments Industry Share Analysis, Regulatory Framework and Card Fraud Statistics, Emerging Consumer Attitudes and Trends, Analysis of Card Payments and Growth Prospects, Analysis of Credit Card Payments and Growth Prospects, Analysis of Debit Card Payments and Growth Prospects, Analysis of Prepaid Card Payments and Growth Prospects, Merchant Acquiring, Company Profiles of Card Issuers, Appendix. The report covering 7 companies- Sberbank of Russia, Alfa-Bank, VTB 24 (JSC), Vozrozhdenie Bank, ZAO Citibank, MasterCard, Visa.
Find All Debit and Credit Cards Reports at: http://www.marketresearchreports.com/debit-credit-cards
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