Payment Card Market in Russia: Analysis of Key Trends and Determinants of Development

About the authors:

Natalya A. Baburina, Cand. Sci. (Econ.), Associate Professor, Department of Economics and Finance, Financial and Economic Institute, University of Tyumen; n.a.baburina@utmn.ru; ORCID: 0000-0002-6970-0449

Alexey G. Kutsev, Cand. Sci. (Econ.), Associate Professor, Financial and Economic Institute, University of Tyumen; a.g.kucev@utmn.ru

Abstract:

A developed market of payment cards is the basis of economic security, collateral security of payments, as well as the indicator of the effectiveness of monetary, banking and financial systems. The paper presents assessment of the degree of maturity, trends, and the functioning of the main driving forces behind the development of Russian market of payment cards in the modern world. The authors have studied the basic parameters characterizing the emissions level of penetration of payment cards and holders operations.

On the basis of econometric analysis the key determinants of the volume of payment cards Russian credit organizations have been identified. The dependence of the quantitative parameter of the payment card market object on the degree of development of trade and services and the level of development of the acquiring infrastructure has also been recognized.

The authors conclude that the prospects for the development of the national market of payment cards lie in the formation of its infrastructure, improvement of the economic climate, increasing business activity.

References:

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