See Full Research Library
Join Mailing List
New research from Mercator Advisory Group examines past, present, and potential future developments in Russian payments.
Published on: April 2, 2013 Author: Tristan Hugo-Webb Alternate Point of Contact: Amy Dunckelmann
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.
(Click to Enlarge)
Highlights of the report include:
The report is 27 pages long and contains 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 this report as well as the upcoming research for the year ahead, presentations, analyst access and other membership benefits.
Commercial & Enterprise Payments
Debit & Alternative Products
North American PaymentsInsights
Small Business PaymentsInsights
Fraud Experience PaymentsInsights
News & Events
@2022 Escalent and/or its affiliates. All Rights Reserved