Payments Landscape in Russia: Opportunities and Risks to 2021

Payments Landscape in Russia: Opportunities and Risks to 2021

  • Products Id :- FS0106CI
  • |
  • Pages: 51
  • |
  • |
  • |
  Request for Sample Report
  Request A Quote

Executive Summary

Payments Landscape in Russia: Opportunities and Risks to 2021


GlobalData's "Payments Landscape in Russia: Opportunities and Risks to 2021", report provides detailed analysis of market trends in the Russian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, direct debit, cash, and payment cards during the review-period (2013-17e).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2017-21f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalData's research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

The 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 debit, cash, and payment cards. It also, includes an overview of the country's key alternative payment instruments.

E-commerce market analysis and payment methods.

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.


Alternative payments are gaining prominence in Russia with the launch of global payment solutions including Alipay, Android Pay, Apple Pay, and Samsung Pay. Alipay was launched in Russia in April 2017, enabling Chinese tourists visiting the country to make payments at partnered networks using Alipay. To expand the use of Alipay, in August 2017 Ant Financial Services partnered with VTB Group, allowing Chinese tourists to use Alipay at more than 120,000 VTB POS terminals across Russia. Meanwhile Google launched Android Pay in Russia in May 2017. The solution enables users to make in-app, in-store, and online payments by storing debit, credit, loyalty, and gift cards on the wallet.

To disrupt the payment card market, which is currently dominated by international scheme providers Mastercard and Visa, the government launched the Mir national payment card in December 2015 under the National Payment Card System. A total of 30 million Mir payment cards were in circulation in Russia as of 2017. A new federal law mandates that 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. In addition, to increase Mir acceptance in international markets the cards are now being issued as co-badged cards with American Express, JCB, and Mastercard. The rising number of Mir cards is anticipated to pose serious competition to Mastercard and Visa in the long run.

To foster the use of electronic payments in the country, in September 2017 the central bank and Russia's FinTech Association approved the development of a new platform, Fast Payments System, for instant retail money transfers. The platform will operate on a 24/7, 365 days a year model. Initially the service will be available for customer-to-customer and business-to-customer transactions such as e-commerce payments, taxes, and fines. Individuals can make payments using their mobile phone, an email address, or an account on social networks; the transactions will be instant and irrevocable. According to the FinTech Association the pilot will begin in early 2018, and a full commercial launch will be rolled out based on the success of the testing.

Reasons to buy

Make strategic business decisions, using top-level historic and forecast market data, related to the Russian cards and payments industry and each market within it.

Understand the key market trends and growth opportunities in the Russian cards and payments industry.

Assess the competitive dynamics in the Russian cards and payments industry.

Gain insights into marketing strategies used for various card types in Russia.

Gain insights into key regulations governing the Russian cards and payments industry.

Read More

Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications


Table of Contents

Market Overview

Executive Summary

Card-based Payments

E-commerce Payments

Alternative Payments

Payments Infrastructure & Regulation


Single User License:
Report can be used by individual purchaser only

Site License:
Report can be shared by unlimited users within one corporate location, e.g. a regional office

Corporate User License:
Report can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

To know more information on Purchase by Section, please send a mail to sales [@]



OTP Bank

Russian Standard Bank


Tinkoff Bank




Golden Crown

American Express

select a license
Single User License
USD 2750 INR 190218
Site License
USD 5500 INR 380435
Corporate User License
USD 8250 INR 570653



The report was very informative and gives me an interesting view on the Indian market....

We would like to thank the entire team of Ken Research in showcasing professionalism in research and quick turnaround time. We have had multiple research reports from Ken Research. The deadline communicated for research was duly met. The research reports were covering many aspects in detail. This showcases their endeavor and care for client satisfaction and a strong understanding of the clients’ requirements. Thank you again for your help...

I appreciate their diligence and determination in customizing the research project. The data proves to be valuable and accurate. I would, in future, definitely use their services again...

I would like to thank Ken research team for meeting our report deliverables. The report is very good and we appreciate your well cooperation. ...

The research you conducted was very helpful for us and the integrity of your research approach gave us great confidence in the data. Look forward to collaborating again in future...

Ken Research Private Limited, Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49
     Gurgaon, Haryana - 122001, India


Company Brochure

Engage with Us

sales [@]