Ken Research Pvt. Ltd.

Russia Payment Services Market Outlook to 2025: Ken Research

Press release   •   Oct 01, 2019 12:58 IST

The report titled “Russia Payment Services Market Outlook to 2025- Breaking New Grounds through Alternative Payment Systems such as Contactless Payments albeit Challenging Profitability of Incumbent Firms)” provides in-depth analysis of the Russia Payment system including cash and non-cash payments, issuing side of the non-cash payments including payment cards, e-money and the acquiring side entailing ATM terminals, and POS Terminals segment. The report also provides comprehensive information on Demographic and Economic overview of Russia, Shadow Economy of Russia and Critical Analysis of the Current Customer Adaptability and Payment Infrastructure for non-cash payments. Under the ATM Terminals segment, the report provides a competitive landscape on ATM manufacturers and ATM Management Service Providing companies and followed by a Snapshot on Cash Management Companies. The POS Terminals Market entails analysis on market size by number and value of transactions processed; segmentation by type of devices, geography and end user industry; followed by competitive landscape of POS Terminals Manufacturers including company profiles of major players. The payment cards segment of the report depicts the operating model, value chain, profile of the card holder, market size by number of cards in circulation, by number and value of transactions. The segment also includes a detailed analysis of the segmentation by type of cards, type of cardholders and type of transactions; competitive landscape of major card issuers and major payment system operators. The E-money segment of the report includes analysis on market size by number and value of transactions, trends and developments, issues and challenges and government regulations governing the segment. The Payment Aggregator segment outlines the operating model, different commissions charged, market size and competitive landscape of major players including company profiles, heat maps and cross comparison matrix. The report concludes with covering the future outlook and analyst recommendations. The recommendations involve key strategies for the existing players to cope up with the declining margins and ensure their profitability for the coming years.

Russia Payment Services Overview and Size

The advent and adaptability to non-cash payments have reduced the dependency on cash for doing payments. At the end of 2018, around 80.0% of the money in circulation was observed to be non-cash. Simultaneously, the growth observed in cash in circulation was less than the growth in nominal GDP, indicating a shift in the consumer preferences to non-cash payments. The rise in the non-cash payments can be further attributed to the rising merchant acceptance and breakthrough innovations such as e-wallets, m-wallets and contactless payments, which have promoted easy and speedy way of doing transactions. However, Russia has been categorized at the “Converging” stage for becoming cashless in nature. It is expected that the high commissions and tariffs charged from merchants would ease in the coming years in the wake of implementation of white label schemes throughout the industry; thereby easing the pain-points of merchants.

Russia Terminals Market (Banking ATMs)

The ATM Terminal industry was observed to be approaching the optimality stage with a decline in the number of operational ATM Terminals and a simultaneous rise in the number of transactions per ATM Terminal during the study period. This is expected to result in innovations capable of disrupting the existing CAPEX model of operations such as introduction of cash recyclers and White Label Scheme for ATM Terminals. The analysis of the industry has been covered through segmentation on the basis of type of transactions and geographical location of ATM Terminals. The segment also covers the competitive landscape of ATM Terminal Manufacturers, ATM Management Service Providers and Issuers and concludes with a snapshot on Cash Management Companies, followed by the future outlook of the segment.

Russia Terminals Market (POS Terminals)

The growth stage of the POS Terminals market allows the firms to capture the untapped opportunities in the market space; stimulating them to expand their reach and coping up with changing customer preferences to non-cash payments. The rising acceptability in terms of installation of POS Terminals from small turnover merchants operating in retail, delivery and others industry in the wake of increasing cardholding population have spurred the demand for POS devices, number of processed transactions and the value of processed transactions. While Ingenico and Verifone continue to capture majority of the installed base of POS terminals, their position is constantly challenged by Chinese and Korean companies, which compete majorly on Price. The analysis also covers the segmentation on the basis of type of devices, geographical distribution of POS terminals and demand from end user industries. The segment concludes with the future outlook covering the number of POS terminals and the expected processed number of transactions by 2025.

Russia Payment Cards Market

Payment cards have been dominantly used be the people of Russia as the mode of non-cash payments. However, with the introduction of e-money operators, direct bank transfer supporting contactless payments, prepaid and virtual cards and instant payments through open banking, the number and value of transactions performed through payment cards was observed increasing at a decreasing rate. While in Russia unbanked population still prevails, the demand for credit cards by the working population is expected to drive the payment cards industry in the coming years. The report covers an extensive competitive landscape of Issuers and Payment System Operators; followed by the future outlook of industry governing the major key operating parameters of number and value of transactions during the forecast period.

Russia E-Money Market

The industry was characterized at a growth stage with an accelerated growth experienced in the number and value of transactions during the study period. However, declining net revenue yields and low switching costs in the wake of fierce competition from contactless Payment systems and Fintech companies is expected to replace the traditional business models to becoming a ubiquitous payment resource offering broader reach for payment of goods and service. The report extensively covers the company profiles of the major players including Yandex.Money, QIWI, WebMoney and Paypal and concludes with recommendations for operating firms to remain profitable for the next few years.

Russia Payment Aggregators Market

With the major emphasis placed on self –employed people and high demand online merchants, the payment aggregators are changing their existing offerings to API led services. The high commission charges act as a major barrier for the low margin retailers to connect with a payment aggregator. Despite this, the number of integrated merchants is expected to grow due to the changing preferences to e-commerce. The concentrated industry space paves way for the new entrants to unleash their innovative disruptions at a cost-effective sustaining model. The segment concludes with emerging trends and their quantified impact on the outlook of the industry.

Key Segments Covered

Russia Payment Services Market

By Cash and Non-Cash Payments

Russia Terminals Market (Banking ATMs)

By Transaction Type (Financial and Non-Financial)

By Geographical Location (Federal Districts wise)

Russia Terminals Market (POS Terminals)

By End-User (Retail, Delivery, Restaurant, Healthcare and Others)

By Type of Devices (Fixed and Mobile)

By Geographical Location (Federal Districts wise)

Russia Payment Cards Market

By Type of Cards (Debit and Credit Cards)

By Type of Cardholder (Individual and Legal Entities)

By Type of Transactions (Cash Withdrawals, Payment Transactions and Others)

Russia Payment Aggregators Market

By Type of Merchant Services (Payment Aggregator, Payment Gateways and Particular Instruments)

Time Period Captured in the Report:

Historical Period – 2013-2018

Forecast Period – 2018-2025

Companies Covered:

ATM Terminals Market

NCR Corporation

Diebold Nixdorf

Nautilus Hyosung

Oki

Indemit,

Lanit ATM,

MultiCarta

Ridgast

POS Terminals Market

Ingenico

Verifone

PAX

E-Money Operators

Yandex.Money

QIWI

WebMoney

PayPal

Payment Aggregators Market

Yandex.Checkout

Robokassa

UnitPay

Payeer

PayAnyWay

Payment Cards Market

VISA

MasterCard

NSPK,

Sberbank

Alfa Bank

VTB 24

Novacard

Rosan Finance

Alioth

Key Topics Covered in the Report

Demographic Analysis of Russia

Consumer Profile in Russia

Economic Analysis of Russia

Shadow Economy of Russia

Consumer Adaptability of Non-Cash Payments Russia

Payment Infrastructure of Non-Cash Payments Russia

Ken Research Framework of Payments Landscape

Cross Comparison of Russia with other developed, developing and emerging economies

Russia ATM Terminals Market Overview, Market Size and Introduction

Competitive Landscape of ATM Manufacturers and ATM Management Companies

Future Outlook on ATM Terminals industry by Number of ATM Terminals and Number of Transactions

Russia POS Terminals Market Overview, Genesis and Size

Competitive Landscape of POS Terminal Manufacturers including Market share and Company Profiles

Future Outlook of POS Terminals; By Installed base, Number of Transactions and By Type of Devices

Russia Payment Cards Market Overview, Genesis and Market Size

Card Holder Profile in Russia

Competitive Landscape of Issuers and Payment System Operators in Payment Cards Market

Snapshot on Card Manufacturing Companies

Future Outlook of Payment Cards Industry; By Number of Users, By Number of Cards in Circulation, By Type of Cards and By Type of Transactions

Russia E-Money Market Introduction, Overview and Genesis

Company Profile of Yandex.Money, QIWI, WebMoney and PayPal

Russia Payment Aggregator Market Introduction, Overview and Market Size

Competitive Landscape of Major Players

Company Profile of Yandex.Checkout, Robokassa, UnitPay, Payeer and PayAnyWay

Future Outlook of Russia Payment Aggregator Market

Analyst Recommendations for Russia Payment Services Market

Suggested Strategies to ensure Business Sustainability

For more information, refer to below link:

Russia Payment Services Market

Related Reports:

India Payment Services Market Research Forecast to 2023 - By Online Payments, M-PoS, IMPS, AePS, USSD-BHIM Transactions, UPI, M-Wallet, PoS Terminal, Payment Gateways, CUG Cards and Payment Security Segment

Russia Remittance and Bill Payments Market Outlook to 2023 – By Domestic Remittance Banking & Non Banking Channels; International Remittance Flow Corridors and Channel; and Bill Payment Segment

Indonesia Domestic and International Remittance Market Outlook to 2023 - By Inbound & Outbound Remittance, By Banking and Non-Banking Channel, By Income Level Group and By Inflow and Outflow Remittance Corridors

Contact Us:

Ken Research

Ankur Gupta, Head Marketing & Communications

sales@kenresearch.com

+91-9015378249

Ken Research is a Global aggregator and publisher of Market intelligence research reports, equity reports, data base directories and economy reports. Our market research reports provides market sizing analysis, insights on promising industry segments, competition, future outlook and growth drivers in the space. The company is engaged in data analytics and aids clients in due-diligence, product expansion, plant setup, acquisition intelligence to all the other gamut of objectives through our research focus.