J & P: Electronic payments - the future of financial structures
Studying J'son & Partners , studying the Russian B2C payments market, came to the conclusion that it is developing rapidly. They believe that the main factor affecting development is non-declining GDP growth.
According to the company's estimates, the payment system market in Russia amounted to $ 255 billion in 2005. It is predicted that by the end of 2006 it will grow to $ 328 billion. “The Russian consumer is ready to use such new payment mechanisms as plastic cards, online payments, e-wallets,” the researchers believe. According to them, the majority of Russian plastic cards (60%) are used in Western projects and cash-out operations.
J & P is confident that the purchasing power of the Russian population is at a level corresponding to the rapid growth of the payment systems market. In addition, its development is helped by the availability of consumer credit. Credit and debit cards are used throughout the country, and the share of credit cards in the overall structure of payment systems is 18%. By 2008, according to J & P, credit cards will make up 27-30% of this market.
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The total number of all types of cards issued in Russia will reach 70 million units by the end of 2006. Researchers predict that this figure will be more than 100 million by the end of 2008.
This indicates that online payments are a promising segment in the Russian B2C sector, since this type of service does not require special licensing. This segment is still far from saturation, and the market for online payment systems is expected to experience a significant increase over the next five years.
Mobile payment systems (including automatic payment machines and direct mobile payments) also have great potential for growth in Russia. The popularity of this service depends on how cellular communication will develop. “In order for the mobile payments segment to develop actively, a number of amendments to financial legislation are required,” J & P notes.
In general, the promotion of electronic payments as the most appropriate way to make purchases is one of the main tasks for financial and payment structures, banks, intermediaries, companies and other market players, the researchers sum up.
According to the company's estimates, the payment system market in Russia amounted to $ 255 billion in 2005. It is predicted that by the end of 2006 it will grow to $ 328 billion. “The Russian consumer is ready to use such new payment mechanisms as plastic cards, online payments, e-wallets,” the researchers believe. According to them, the majority of Russian plastic cards (60%) are used in Western projects and cash-out operations.
J & P is confident that the purchasing power of the Russian population is at a level corresponding to the rapid growth of the payment systems market. In addition, its development is helped by the availability of consumer credit. Credit and debit cards are used throughout the country, and the share of credit cards in the overall structure of payment systems is 18%. By 2008, according to J & P, credit cards will make up 27-30% of this market.
')
The total number of all types of cards issued in Russia will reach 70 million units by the end of 2006. Researchers predict that this figure will be more than 100 million by the end of 2008.
This indicates that online payments are a promising segment in the Russian B2C sector, since this type of service does not require special licensing. This segment is still far from saturation, and the market for online payment systems is expected to experience a significant increase over the next five years.
Mobile payment systems (including automatic payment machines and direct mobile payments) also have great potential for growth in Russia. The popularity of this service depends on how cellular communication will develop. “In order for the mobile payments segment to develop actively, a number of amendments to financial legislation are required,” J & P notes.
In general, the promotion of electronic payments as the most appropriate way to make purchases is one of the main tasks for financial and payment structures, banks, intermediaries, companies and other market players, the researchers sum up.
Source: https://habr.com/ru/post/4673/
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