What is your projection for the future perspective of development of credit cards market?
In my opinion, this market still has room to grow in Russia, both in quantitative and qualitative terms. In the near future the use of loyalty programs will be more and more popular, as well as various cash-back promotions and additional services. There will develop the qualitative top-up of the card product: concierge service, insurance, convenient payment services, mobile banking. There will further develop contactless technology, the introduction of cards (through payment chip) in various gadgets (phone, watch).
In my opinion, the credit card will remain one of the most demanded areas of lending to the physical entities in the Russian market, despite the regulation policy tightening. The current rate of growth in demand for credit cards can slow down.
At the moment the market is developing quite rapidly, however, we are still far from the Western markets. There are many technologies that are poorly implemented in our market or they do not exist. We should also mention the need to extend the area of acquiring. To the greatest extent the sparsely populated region are suffering of it, which in turn leads to less interest in plastic cards.