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Surge in Consumer Preferences for Non-Cash Payments Expected to Drive Russia Payment Services Market over the Forecast Period: Ken Research
November 2019

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Payment system is a system used to settle financial transactions by the transfer of monetary value. Payment system includes institutions, people, rules, instruments, procedures, standards, and technologies which make it exchange possible. Its common type is known as operational network that links bank accounts and provides monetary exchange using bank deposits. It includes cash and non-cash payments. Non-cash payments includes payment cards, Point-of-sale (POS) Terminals segment and electronic-money (e-money) & acquiring side entailing ATM terminals.

POS is the place where customer makes a payment for services or products at store. E-money is a digital corresponding of cash, stored on an electronic device at a server. Additionally, ATM is an electronic finance outlet which allows customers to complete basic transactions without the help of a branch representative or teller.

According to study, “Russia Payment Services Market Outlook to 2025- Breaking New Grounds through Alternative Payment Systems such as Contactless Payments albeit Challenging Profitability of Incumbent Firms)” the key companies operating in the Russia payment services market are NCR Corporation, Nautilus Hyosung, Diebold Nixdorf, Lanit ATM, Oki, MultiCarta, Indemit, Ridgast, Ingenico, PAX, Verifone, Yandex.Money, WebMoney, QIWI, PayPal, VISA, NSPK, MasterCard, Alfa Bank, Sberbank, Rosan Finance, VTB 24, Alioth, Novacard, Yandex.Checkout, UnitPay, Robokassa, PayAnyWay, Payeer.

Based on component type, payment services market is segmented into hardware and software. Based on POS terminal type, market is segmented into fixed POS terminals and mobile POS terminals. Based on payment card type, market is segmented into single purpose prepaid card and multi-purpose prepaid card. Based on payment cardholder, market is segmented into legal & individual entities. Based on banking automated teller machines (ATMs), market is segmented into geographical location (federal districts wise) and transaction type (financial & non-financial). Based on payment aggregator, market is segmented into payment gateways, payment aggregators and particular instruments. Based on e-money payment mode, market is segmented into Near-field communication (NFC), Short Message Service (SMS), mobile billing, Wireless Application Protocol (WAP) and Unstructured Supplementary Service Data/ SIM Application Toolkit (USSD/STK). Based on purchase type, market is segmented into airtime transfers & top-ups, merchandise & coupons, money transfers & payments and travel & ticketing. Based on usage type, market is segmented into gift card, general purpose reloadable card, gift card, incentive or payroll card, government benefits or disbursement card, and others. In addition, based on industry vertical, market is segmented into corporate institutions, financial institutions, retail establishments, government, restaurants, healthcare, entertainment and others.

The payment services market is driven by rise in demand for cash alternatives, followed by prepaid-based remittance feature, rise in e-commerce & m-commerce industry, increase in penetration of smart-phones, surge in consumer preferences for non-cash payments and increase in number of internet users. However, prone to fraudulent attacks may impact the market. Moreover, increase in unbanked & under banked population and rise in demand for fast & hassle-free transaction services are key opportunities for market.

It is anticipated that future of the Russian payment services market will be bright owing to rise in disposable income, growth in need for secure, user-friendly, & convenient payment options and increase in number of government initiatives to promote digital economy over the forecast period.

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

Contact Us:

Ken Research

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91-9015378249



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