“Initially, the Russian payment market appears stout, especially with the number of debit cards exceeding the total population of the country. However, under closer scrutiny the wider payment market is confounding."
Boston, MA (PRWEB) April 04, 2013
After languishing for many years, the Russian payment market is quickly becoming one of the most attractive international markets with many domestic segments well positioned to grow exponentially in the near future.
From strong growth in debit, credit, and prepaid card issuing to an e-commerce market that could grow by 25 percent annually, the Russian payment market is intriguing. Between 2007 and 2011, although still a small payment market, Russia demonstrated growth in segments including payment card issuing, bank branch and ATM deployment, POS terminal rollouts, and e-commerce comparable to the leading international payment destinations, including China. Introduction to the Russian Payment Market, the latest in a series of Mercator Advisory Group reports examining international markets, sheds light on Russian payments and unravels their mystery.
“Initially, the Russian payment market appears stout, especially with the number of debit cards exceeding the total population of the country. However, under closer scrutiny the wider payment market is confounding. Despite the large number of debit cards issued, formal bank account penetration is less than 50 percent. Furthermore the overall number of ATMs and POS terminals is tiny compared with the size of the population. These oddities of the Russian payment market highlight the significant prospect for growth in the future,” comments Tristan Hugo-Webb, Analyst for Mercator Advisory Group’s International Advisory Service and the primary author of the report.
Highlights of the report include:
- Examination of trends in payment card, banking, merchant, and e-commerce segments between 2007 and 2011
- Projections for the Russian payment market segments for the near future (2013, 2015, and 2020)
- Comparison of the Russian payment market to that of other countries including Brazil, India, and China
- Summary of selected Russian payment industry leaders and their role in the overall domestic payment market
This report contains 27 pages and 11 exhibits.
Companies mentioned in this report include: Assist, Chronopay, CyberPlat, MasterCard, QIWI, Russian Post, Sberbank, United Card Service, Visa, WebMoney, Yandex, and Zolotaya Korona.
Members of Mercator Advisory Group’s International Advisory Service have access to these reports as well as the upcoming research for the year ahead, presentations, analyst access, and other membership benefits.
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About Mercator Advisory Group
Mercator Advisory Group is the leading, independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.