Open AccessResearch of population readiness to use credit cards in Russia
Author(s) -
Olesya Lakovich,
E. Yu. Koroleva
Publication year - 2020
Publication title -
kant
Language(s) - English
Resource type - Journals
ISSN - 2222-243X
DOI - 10.24923/2222-243x.2020-36.11
Subject(s) - underdevelopment , credit card , business , loyalty , population , service (business) , marketing , credit card interest , credit reference , economics , actuarial science , finance , credit risk , economic growth , demography , sociology , payment
To date, an analysis of trends in the development of banking services has revealed the underdevelopment of the credit card market in Russia. This situation indicates the presence of barriers to the development of this type of service. The article identifies the most significant factors influencing the choice of the consumer in relation to the use of credit cards using the construction of a structural equation model. As a result, it is statistically substantiated that reasons such as fear of unnecessary spending and an unreasonable increase in consumers' own expenses are the main barrier to the development of the bank credit card market. The key driver of market development is attractive loyalty programs and favorable cashback conditions for potential consumers.