DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/fdrpd9/russias_cards) has announced the addition of the "Russia's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape" report to their offering.
The Russian card payments channel grew substantially both in volume and value terms during the review period. In terms of total cards volume, the channel grew at a CAGR of 19.70% and is expected to grow at a CAGR of 7.00% over the forecast period. In value terms, the card payments channel increased from RUB8.8 trillion (US$354.6 billion) in 2008 to RUB21.8 trillion (US$700.8 billion) in 2012, at a CAGR of 25.39%. The value is expected to reach RUB43.9 trillion (US$1.4 trillion) in 2017, growing at a CAGR of 13.19% over the forecast period. Dominating the card payments channel in terms of volume are debit cards, with a 65.7% share in 2012, followed by prepaid and credit cards with respective shares of 25.5% and 8.7%.
In 2010, the Bank of Russia (BoR) continued its work with credit institutions and other organizations that operate payment systems and provide payment infrastructure services, with a view to developing the national system in line with international standards. The primary objective of the BoR to develop and improve its payment system is to minimize associated risks whilst ensuring its efficient and smooth operation. As a part of a new national payment system, the Ministry for Economic Development has approved a plan to launch the Universal Electronic Card (UEC) for all Russian citizens. The UEC is intended to eventually replace all local, regional, and national forms of ID, and will serve as a combined electronic ID, driver's license, car insurance certificate, and bank card and migration document, among other possible functions. The card will be used as a complete communication tool between cardholders and the government. The government and the BoR introduced the UEC in January 2013 on a voluntary basis, and the number of cards in circulation had reached 10,000 by March 2013. The Russian government has also envisaged setting up application points at post offices, banks and commercial centers, amongst other locations in the country.
Key Topics Covered
1 Executive Summary
2 Analysis of Market Environment, Key Trends and Drivers
3 Cards and Payments Industry Share Analysis
4 Regulatory Framework and Card Fraud Statistics
5 Emerging Consumer Attitudes and Trends
6 Analysis of Card Payments and Growth Prospects
7 Analysis of Credit Card Payments and Growth Prospects
7.4.1 Analysis by number of cards in circulation
8 Analysis of Debit Card Payments and Growth Prospects
9 Analysis of Prepaid Card Payments and Growth Prospects
10 Merchant Acquiring
11 Company Profiles of Card Issuers
12 Appendix
For more information visit http://www.researchandmarkets.com/research/fdrpd9/russias_cards
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