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Future Growth Potential of Mobile Money in Russia: Market Profile
BRICdata - 4/26/2012 - 30 Pages - ID: BRDT3870472
Abstract | Table
The report provides top-level market analysis, information and insights, including:
- In-depth analysis of mobile money opportunities in Russia
- A comprehensive and country-specific analysis of market attractiveness, covering the key trends, drivers and challenges
- Detailed mobile money market sizing and forecasts for 2011?2016 including volume, value and average transaction size
Mobile payment service launches by leading banks and telecom operators, a growing mobile-internet subscriber base and a new electronic payments law passed in 2011 are some of the factors driving the growth of the mobile money market in Russia. Operators are concentrating on making contactless mobile payment service available to users in line with the NFC standard.
All three leading mobile operators in Russia, Megafon, MTS and Vimpelcom, have collaborated to provide users with common access to each other?s mobile payment services. This initiative will provide the required convenience for users, and will facilitate greater infrastructure interoperatability.
While SMS-based mobile banking is still very popular, its share is expected to decline to make way for mobile banking applications. While banks and operators are focusing on mobile banking applications for iPhone, Windows, and Android platforms, BRICdata expects operators to incorporate a broader set of functionalities in their mobile banking applications.
The key challenges in the mobile payments market are the high cost of mobile data plans, the high rate of commission charged by mobile operators on every transaction and lack of full-scale mobile banking applications with banks only offering a limited set of functionalities to users. Despite these challenges, the outlook of the market is positive with users increasingly depending on their mobile devices for the payment of bills and balance checks. With the greater availability of contactless mobile payments, mobile-based banking will be an imperative service over the forecast period.
Reasons To Buy
- This report provides an extensive analysis of the mobile money market in Russia
- It provides current and forecast market size for the mobile money market in Russia
- It offers a detailed analysis of business, infrastructure, technology and consumer trends driving the growth of the mobile money market in Russia
- The report highlights the key challenges faced by the mobile money market
- It provides case examples of key mobile payment vendors offering mobile payment services
- The report details the new services launched by mobile banking operators in Russia
- It also provides insights into the future of the mobile money market and upcoming trends shaping the growth of the market in Russia
- Gain in-depth insight into the mobile money market in Russia
- Take informed decisions and formulate effective technical and marketing strategies based on the report?s detailed market insights on the mobile money market
- Understand the key consumer, business and economic trends within the mobile money market in Russia
- Gain insight on the growth strategies adopted by key mobile payment service providers
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