Marketplaces and banks: competing in the transactional economy

The article explores the development of marketplaces in the banking sector and their impact on traditional financial institutions. Using Ozon Group as a case study, it highlights the dynamics of asset growth and the strategy of integrating acquiring services into the wider ecosystem. The research shows that building in-house payment solutions allows marketplaces to cut costs and secure a sustainable competitive edge. A comparative analysis of acquiring fees charged by leading Russian banks is provided, alongside insights into the distinct business models of marketplace-driven banks. The study notes that marketplaces are capable of capturing a significant share of the e-commerce market while creating closed-loop ecosystems. At the same time, they continue to face limitations, such as the absence of large-scale payroll projects and lower profitability per customer compared to traditional banks. The conclusion drawn is that, in the medium term, marketplaces will emerge as a powerful force reshaping the transaction economy. Future research will expand to examine the impact of BNPL models and the role of interest income as a key profit driver, with Ozon’s fintech segment serving as an example. The scaling of ecosystems is expected to manifest through the development of payment terminals, the expansion of offline purchases, and the installation of ATMs – laying the groundwork for deeper competition with traditional banks.