J’son & Partners Consulting - Russian E-Money Market, Results of 1H2014
J’son & Partners Consulting presents short results of the research: Russian E-Money Market, Results of 1H2014.
Electronic payment systems (EPS) can be divided in to the following categories:
Payment Terminals
Remote Financial Services
RemoteBankingServices
Internet-Banking
SMS-Banking
Mobile Banking
Mobile Operators Payments
E-Money
E-Money is emitter’s money liabilities in electronic form based on e-device, which belongs to the user.
According to J’son & Partners Consulting the payment turnover via e-money systems has increased for 38% in 1H2014 vs same indicator at the end of 1H2013 and has reached 270 bln RUB. Market turnover will reach 570 bln RUB and a little less than 1 trln RUB at the end of 2014 and 2018 accordingly.
In 1H2014, 320 mln transactions were done on e-money market. This indicator will hit 600 mln by the end of the year with 20% growth vs the previous year. According to J'son & Partners Consulting’s forecast, the growth rate of number of transactions will be 7% and will reach 870 mln by 2018.
Due to J'son & Partners Consulting’s analysis the constant increase of average volume per transaction facilitates fast turnover growth. This indicator was on the level of 690 RUB in 2012 and around 850 RUB in 1H2014. According to J'son & Partners Consulting, this tendency will remain against background of the changing payment structure.
Share of transfers (including money transfers; replenishment of e-wallets, transfers between accounts, including to credit organizations) has yearly been increasing in the turnover structure of payments via e-money systems and overstepped share of payments for mobile communication in 2013 for the first time. This tendency remained in 1H2014 and share of payments for mobile communication has slightly decreased, share of transfers, on contrary, increased.
