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

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

Full Report Details at
- http://www.fastmr.com/prod/1180377_the_cards_payments_industry.aspx?afid=301

Report 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.

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