Analysis of the Growth and Development of Acquiring Operations in Russia

Abstract

The number of bank accounts and payment cards, the number and volume of transactions, the number of payment terminals are analyzed based on statistical data which provided by the Central Bank of Russia. The paper discusses the development trends of the banking industry, the main of which is the growth of Internet technologies. A number of factors affecting the development of the banking industry as a whole and for acquiring operations are analyzed, such as security, convenience and opportunity, the legal framework, the stability in the country. The basic advantages and disadvantages of acquiring and internet acquiring are shown in this paper.

Keywords

• payment cards
• acquiring
• repayment of goods and services