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Country Report

Financial Cards and Payments in

Financial Cards and Payments in Russia

Nov 2020

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Executive Summary

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COVID-19 impact on consumer payments

Overall consumer expenditure in Russia has been negatively impacted by the widespread decline in demand for services, tourism and foodservice throughout the country and consequent impact on GDP. Consumer payments were already shifting away from cash before the COVID-19 outbreak, in line with ongoing modernisation and government programmes such as the MIR national social payment system.

COVID-19 country impact

Restrictions to prevent the spread of COVID-19 were introduced gradually in Russia. The entry of Chinese citizens was banned from 20 February, with this being extended to Iranians from 28 February and South Koreans from 1 March.

Migration towards cashless society further fuelled by concerns over pandemic

Financial cards and payments continue to gain sales share in Russia, with this trend being accelerated by the COVID-19 pandemic. The government’s policy of supporting a favourable environment for financial cards is driving transactions, with the habit of making transactions via financial cards already being well-established in the country.

Debit cards boosted by contactless technology and biometrics developments

The shift towards financial cards, especially debit cards, is being facilitated by the launch and use of contactless technology and biometrics. Contactless and biometrics trends are likely to develop further over the forecast period as more of these payment facilities are developed across Russia.

Competitive environment revolutionised by MIR payment system

Russia is following the global trend of building a cashless society through the heavy promotion and use of debit card transactions. This movement is driven by the introduction and development of the local MIR payment system, which is spreading across the social and welfare sphere.

What next for consumer payments?

As the economy recovers from the impact of COVID-19 and life gradually returns to normal, financial cards in Russia is expected to post continued and stable growth over the forecast period at the expense of cash payments in terms of number of cards, transactions and total value. A favourable environment for financial cards will encourage continued growth.

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Overview

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Overview

Discover the latest market trends and uncover sources of future market growth for the Financial Cards and Payments industry in Russia with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Financial Cards and Payments industry in Russia, our research will save you time and money while empowering you to make informed, profitable decisions.

The Financial Cards and Payments in Russia market research report includes:

Analysis of key supply-side and demand trends
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Financial Cards and Payments in Russia?
What are the major operators and issuers in Russia?
How will regulation impact the market?
What is the current state of emerging payment technologies such as mobile commerce?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

Euromonitor’s industry reports, including Financial Cards and Payments in Russia, originate from our database within our Consumer Finance market share and market size database, Passport, a platform which analyses Consumer Finance in 46 countries and globally.

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Financial Cards and Payments in Russia - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on consumer payments

COVID-19 country impact

Migration towards cashless society further fuelled by concerns over pandemic

Debit cards boosted by contactless technology and biometrics developments

Competitive environment revolutionised by MIR payment system

What next for consumer payments?

MARKET INDICATORS

Table 1 Number of POS Terminals: Units 2015-2020
Table 2 Number of ATMs: Units 2015-2020
Table 3 Value Lost to Fraud 2015-2020
Table 4 Card Expenditure by Location 2020
Table 5 Financial Cards in Circulation by Type: % Number of Cards 2015-2020
Table 6 Domestic versus Foreign Spend 2020

MARKET DATA

Table 7 Financial Cards by Category: Number of Cards in Circulation 2015-2020
Table 8 Financial Cards by Category: Number of Accounts 2015-2020
Table 9 Financial Cards Transactions by Category: Value 2015-2020
Table 10 Financial Cards by Category: Number of Transactions 2015-2020
Table 11 Consumer Payments by Category: Value 2015-2020
Table 12 Consumer Payments by Category: Number of Transactions 2015-2020
Table 13 M-Commerce by Category: Value 2015-2020
Table 14 M-Commerce by Category: % Value Growth 2015-2020
Table 15 Financial Cards: Number of Cards by Issuer 2015-2019
Table 16 Financial Cards: Number of Cards by Operator 2015-2019
Table 17 Financial Cards: Card Payment Transactions Value by Operator 2015-2019
Table 18 Financial Cards: Card Payment Transactions Value by Issuer 2015-2019
Table 19 Forecast Financial Cards by Category: Number of Cards in Circulation 2020-2025
Table 20 Forecast Financial Cards by Category: Number of Accounts 2020-2025
Table 21 Forecast Financial Cards Transactions by Category: Value 2020-2025
Table 22 Forecast Financial Cards by Category: Number of Transactions 2020-2025
Table 23 Forecast Consumer Payments by Category: Value 2020-2025
Table 24 Forecast Consumer Payments by Category: Number of Transactions 2020-2025
Table 25 Forecast M-Commerce by Category: Value 2020-2025
Table 26 Forecast M-Commerce by Category: % Value Growth 2020-2025

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

SOURCES

Summary 1 Research Sources

Charge Cards in Russia - Category analysis

2020 IMPACT

Credit Cards in Russia - Category analysis

KEY DATA FINDINGS

2020 IMPACT

COVID-19 helps Russian consumers become more familiar with credit cards

Government legislation and support boosts attractiveness of credit cards

Extensive portfolios and loyalty programmes key to attracting consumers

RECOVERY AND OPPORTUNITIES

Marketing key to raise awareness of benefits of credit cards among consumers

Credit card usage to be boosted by massive rise in e-commerce transactions

Brands targeting specific consumer groups via cobranded cards

CATEGORY DATA

Table 27 Credit Cards: Number of Cards in Circulation 2015-2020
Table 28 Credit Cards Transactions 2015-2020
Table 29 Credit Cards in Circulation: % Growth 2015-2020
Table 30 Credit Cards Transactions: % Growth 2015-2020
Table 31 Commercial Credit Cards: Number of Cards in Circulation 2015-2020
Table 32 Commercial Credit Cards Transactions 2015-2020
Table 33 Commercial Credit Cards in Circulation: % Growth 2015-2020
Table 34 Commercial Credit Cards Transactions: % Growth 2015-2020
Table 35 Personal Credit Cards: Number of Cards in Circulation 2015-2020
Table 36 Personal Credit Cards Transactions 2015-2020
Table 37 Personal Credit Cards in Circulation: % Growth 2015-2020
Table 38 Personal Credit Cards Transactions: % Growth 2015-2020
Table 39 Credit Cards: Number of Cards by Issuer 2015-2019
Table 40 Credit Cards: Number of Cards by Operator 2015-2019
Table 41 Credit Cards Payment Transaction Value by Issuer 2015-2019
Table 42 Credit Cards Payment Transaction Value by Operator 2015-2019
Table 43 Commercial Credit Cards: Number of Cards by Issuer 2015-2019
Table 44 Commercial Credit Cards: Number of Cards by Operator 2015-2019
Table 45 Commercial Credit Cards Payment Transaction Value by Issuer 2015-2019
Table 46 Commercial Credit Cards Payment Transaction Value by Operator 2015-2019
Table 47 Personal Credit Cards: Number of Cards by Issuer 2015-2019
Table 48 Personal Credit Cards: Number of Cards by Operator 2015-2019
Table 49 Personal Credit Cards Payment Transaction Value by Issuer 2015-2019
Table 50 Personal Credit Cards Payment Transaction Value by Operator 2015-2019
Table 51 Forecast Credit Cards: Number of Cards in Circulation 2020-2025
Table 52 Forecast Credit Cards Transactions 2020-2025
Table 53 Forecast Credit Cards in Circulation: % Growth 2020-2025
Table 54 Forecast Credit Cards Transactions: % Growth 2020-2025
Table 55 Forecast Commercial Credit Cards: Number of Cards in Circulation 2020-2025
Table 56 Forecast Commercial Credit Cards Transactions 2020-2025
Table 57 Forecast Commercial Credit Cards in Circulation: % Growth 2020-2025
Table 58 Forecast Commercial Credit Cards Transactions: % Growth 2020-2025
Table 59 Forecast Personal Credit Cards: Number of Cards in Circulation 2020-2025
Table 60 Forecast Personal Credit Cards Transactions 2020-2025
Table 61 Forecast Personal Credit Cards in Circulation: % Growth 2020-2025
Table 62 Forecast Personal Credit Cards Transactions: % Growth 2020-2025

Debit Cards in Russia - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Ongoing adoption of debit cards accelerated by COVID-19 crisis

Usage fuelled by development of contactless and mobile solutions

Investment in innovation and extensive coverage key to success

RECOVERY AND OPPORTUNITIES

Shift away from cash to continue despite gradual return to normality

MIR implementation continues to revolutionise competitive environment

Leading brands respond to rapid development of mobile e-commerce

CATEGORY DATA

Table 63 Debit Cards: Number of Cards in Circulation 2015-2020
Table 64 Debit Cards Transactions 2015-2020
Table 65 Debit Cards in Circulation: % Growth 2015-2020
Table 66 Debit Cards Transactions: % Growth 2015-2020
Table 67 Debit Cards: Number of Cards by Issuer 2015-2019
Table 68 Debit Cards: Number of Cards by Operator 2015-2019
Table 69 Debit Cards Payment Transaction Value by Issuer 2015-2019
Table 70 Debit Cards Payment Transaction Value by Operator 2015-2019
Table 71 Forecast Debit Cards: Number of Cards in Circulation 2020-2025
Table 72 Forecast Debit Cards Transactions 2020-2025
Table 73 Forecast Debit Cards in Circulation: % Growth 2020-2025
Table 74 Forecast Debit Cards Transactions: % Growth 2020-2025

Pre-Paid Cards in Russia - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Pre-paid card usage hit hard by COIVID-19 lockdown measures

Convenience and lower tariffs drive demand for transportation cards

Interest boosted by new money transfer and ATM withdrawal functionality

RECOVERY AND OPPORTUNITIES

Positive outlook due to widespread popularity of convenient transportation cards

Popularity of open loop pre-paid cards boosted by extending coverage

Open loop pre-paid cards threatened by ban on anonymous transactions

CATEGORY DATA

Table 75 Pre-paid Cards: Number of Cards in Circulation 2015-2020
Table 76 Pre-paid Cards Transactions 2015-2020
Table 77 Pre-paid Cards in Circulation: % Growth 2015-2020
Table 78 Pre-paid Cards Transactions: % Growth 2015-2020
Table 79 Closed Loop Pre-paid Cards Transactions 2015-2020
Table 80 Closed Loop Pre-paid Cards Transactions: % Growth 2015-2020
Table 81 Open Loop Pre-paid Cards Transactions 2015-2020
Table 82 Open Loop Pre-paid Cards Transactions: % Growth 2015-2020
Table 83 Pre-paid Cards: Number of Cards by Issuer 2015-2019
Table 84 Pre-paid Cards: Number of Cards by Operator 2015-2019
Table 85 Pre-paid Cards Transaction Value by Issuer 2015-2019
Table 86 Pre-paid Cards Transaction Value by Operator 2015-2019
Table 87 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2015-2019
Table 88 Closed Loop Pre-paid Cards: Number of Cards by Operator 2015-2019
Table 89 Closed Loop Pre-paid Cards Transaction Value by Issuer 2015-2019
Table 90 Closed Loop Pre-paid Cards Transaction Value by Operator 2015-2019
Table 91 Open Loop Pre-paid Cards: Number of Cards by Issuer 2015-2019
Table 92 Open Loop Pre-paid Cards: Number of Cards by Operator 2015-2019
Table 93 Open Loop Pre-paid Cards Transaction Value by Issuer 2015-2019
Table 94 Open Loop Pre-paid Cards Transaction Value by Operator 2015-2019
Table 95 Forecast Pre-paid Cards: Number of Cards in Circulation 2020-2025
Table 96 Forecast Pre-paid Cards Transactions 2020-2025
Table 97 Forecast Pre-paid Cards in Circulation: % Growth 2020-2025
Table 98 Forecast Pre-paid Cards Transactions: % Growth 2020-2025
Table 99 Forecast Closed Loop Pre-paid Cards Transactions 2020-2025
Table 100 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2020-2025
Table 101 Forecast Open Loop Pre-paid Cards Transactions 2020-2025
Table 102 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2020-2025

Store Cards in Russia - Category analysis

KEY DATA FINDINGS

2020 IMPACT

COVID-19 restrictions on retailers result in major drop in store card usage

Growing competition from cobranded debit and credit cards

IKEA focuses on fostering consumer loyalty for its store card

RECOVERY AND OPPORTUNITIES

Increasing competition and changing consumer preferences to limit growth

Threat posed by wider coverage and benefits of open loop pre-paid cards

Ongoing expansion of IKEA offers positive scope for further growth

CATEGORY DATA

Table 103 Store Cards: Number of Cards in Circulation 2015-2020
Table 104 Store Cards Transactions 2015-2020
Table 105 Store Cards in Circulation: % Growth 2015-2020
Table 106 Store Cards Transactions: % Growth 2015-2020
Table 107 Store Cards: Number of Cards by Issuer 2015-2019
Table 108 Store Cards: Payment Transaction Value by Issuer 2015-2019
Table 109 Forecast Store Cards: Number of Cards in Circulation 2020-2025
Table 110 Forecast Store Cards Transactions 2020-2025
Table 111 Forecast Store Cards in Circulation: % Growth 2020-2025
Table 112 Forecast Store Cards Transactions: % Growth 2020-2025

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Megatrends

Country Report

Financial Cards and Payments in Russia

New Report Guarantee

Executive Summary

New Report Guarantee

COVID-19 impact on consumer payments

COVID-19 country impact

Migration towards cashless society further fuelled by concerns over pandemic

Debit cards boosted by contactless technology and biometrics developments

Competitive environment revolutionised by MIR payment system

What next for consumer payments?

Overview

Why buy this report?

Samples (FAQs about samples):

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Table of Contents

Financial Cards and Payments in Russia - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on consumer payments

COVID-19 country impact

Migration towards cashless society further fuelled by concerns over pandemic

Debit cards boosted by contactless technology and biometrics developments

Competitive environment revolutionised by MIR payment system

What next for consumer payments?

MARKET INDICATORS

MARKET DATA

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

SOURCES

Charge Cards in Russia - Category analysis

2020 IMPACT

Credit Cards in Russia - Category analysis

KEY DATA FINDINGS

2020 IMPACT

COVID-19 helps Russian consumers become more familiar with credit cards

Government legislation and support boosts attractiveness of credit cards

Extensive portfolios and loyalty programmes key to attracting consumers

RECOVERY AND OPPORTUNITIES

Marketing key to raise awareness of benefits of credit cards among consumers

Credit card usage to be boosted by massive rise in e-commerce transactions

Brands targeting specific consumer groups via cobranded cards

CATEGORY DATA

Debit Cards in Russia - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Ongoing adoption of debit cards accelerated by COVID-19 crisis

Usage fuelled by development of contactless and mobile solutions

Investment in innovation and extensive coverage key to success

RECOVERY AND OPPORTUNITIES

Shift away from cash to continue despite gradual return to normality

MIR implementation continues to revolutionise competitive environment

Leading brands respond to rapid development of mobile e-commerce

CATEGORY DATA

Pre-Paid Cards in Russia - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Pre-paid card usage hit hard by COIVID-19 lockdown measures

Convenience and lower tariffs drive demand for transportation cards

Interest boosted by new money transfer and ATM withdrawal functionality

RECOVERY AND OPPORTUNITIES

Positive outlook due to widespread popularity of convenient transportation cards

Popularity of open loop pre-paid cards boosted by extending coverage

Open loop pre-paid cards threatened by ban on anonymous transactions

CATEGORY DATA

Store Cards in Russia - Category analysis

KEY DATA FINDINGS

2020 IMPACT

COVID-19 restrictions on retailers result in major drop in store card usage

Growing competition from cobranded debit and credit cards

IKEA focuses on fostering consumer loyalty for its store card

RECOVERY AND OPPORTUNITIES

Increasing competition and changing consumer preferences to limit growth

Threat posed by wider coverage and benefits of open loop pre-paid cards

Ongoing expansion of IKEA offers positive scope for further growth

CATEGORY DATA

Why buy this report?

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