Market Data Forecast’s "Russia Cards And Payments Market" report offers a distinct range of possibilities in the market of payment cards along with the accurately validated statistics of operational cards in the market and their total transactional values. It suggests profitable marketing strategies considering the competitive landscape in the market, purchase trends, payment options in online trade and significant government frameworks impacting the overall payment card market of Russia.
Our report kindles the hidden opportunities with dependable information about different types of cash transactions, volumes of cardholders, market proportion, current accounts, increase within the number of cards, credit cards outstanding balances, transactional values, details of the issuers at the side of available banking schemes and futuristic analysis of overall cards and payment marketplace in Russia.
Russia Cards and Payments Market – Key Highlights:
The growing traction of alternative payments in Russia with the adoption of payment solutions like Alipay, helping Chinese tourists to pay at more than 120,000 VTM POS terminals across Russia, Andriod Pay, with the option to store debit, credit, loyalty, and gift cards details on the wallet, along with Apple Pay and Samsung pay.
The tough competition to international scheme providers like Visa and MasterCard with the local made Mir national payment card under the National Payment Card System of Russia. All public sector employees and workers who receive welfare benefits from federal or state funds will migrate to Mir payment cards from July 1, 2018, as per the new federal law. To be accepted in the international markets Co-badged cards are issued with American Express, JCB, and MasterCard.
The development of a new platform for instant money transfers called Fast Payments System, approved by the central bank and Russia’s FinTech Association will be available throughout the year to provide services like customer-to-customer and business-to-customer transactions such as e-commerce payments, taxes, and fines. Customers can make instant and irreversible transactions using their mobile phone, an email address, or an account on social networks.
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Russia Cards and Payments Market
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