According to the NBU, the number of institutions that accept payment cards increased in 2020 by 36.1%.%, and this trend will continue in 2021.. It is worth noting that almost 87% of payment card transactions in 2020 were cashless.<\/p>\n
During this year, Ukrainians have become accustomed to a new way of buying goods and services. At the same time, there are no economic or social incentives for the reverse process \u2013 moving to cash payments.<\/p>\n\t
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\n\n\t\t\t\t\t\t\tVictoria Burdeina<\/span>\n\t\t\t\n\t\t\t\t\t\t\tEBA Electronics Payment Committee Coordinator<\/span>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\n\t\t\t\tHowever, the pandemic is not the only reason. The increase in the share of non-cash payments is a trend of the last few years, which was accelerated in 2020. In 2019, for example, this figure already amounted to 82.4%.\n\t\t\t<\/blockquote>\n\t\t\t\t\n\t<\/div>\n\nAt the same time, Valeria Bondarenko, managing partner of Fondy, EBA Electronics Payment Committee member, stressed:<\/p>\n\t
\n\n\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\n\t\t\t\t\t\t\tValeria Bondarenko<\/span>\n\t\t\t\n\t\t\t\t\t\t\tManaging partner of Fondy<\/span>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t
\n\t\t\t\tIn 2020, every third non-cash transaction with a payment card was carried out on the Internet (36.5%) which is equivalent to almost 642 billion hryvnias a year. In total, the volume of online payments has tripled in the last five years: in 2015 it amounted to UAH 203 billion. The main driver of the card transactions growth is that ever more stores and service companies provide their customers with the possibility to pay with the card. According to the NBU, the number of institutions that accept payment cards increased by 36.1% over the year. At the same time, we saw that banks have done a great job of providing convenient and attractive Internet banking services, as well as providing a high level of protection for payers when conducting transactions online. The business, for its part, has made every effort to provide the opportunity to pay by card at points of offline sales, as well as to make purchases of goods and services online. As a result, Ukrainians are convinced that card payments can be convenient, fast, and secure. This is confirmed by the growing trend of online payments. In 2020, in particular, payments increased in such segments as food delivery; purchase of sports equipment; online education - workshops, courses, seminars; children goods.\n\t\t\t<\/blockquote>\n\t\t\t\t\n\t<\/div>\n\n\t\n\n\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\n\t\t\t\t\t\t\tVira Platonova<\/span>\n\t\t\t\n\t\t\t\t\t\t\tSenior Vice President SEE CIS Visa Inc<\/span>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t
\n\t\t\t\tAmong the factors that have contributed to the development of cashless payment services are the progressive approaches to regulation which currently take place in Ukraine. Such regulation has enabled the cashless and digital payments industry to grow, which is critical to ensuring financial inclusion, building the country\u2032s digital economy and infrastructure, and reducing the shadow economy.\n\t\t\t<\/blockquote>\n\t\t\t\t\n\t<\/div>\n\nIt should be noted that, according to the NBU, the total amount of transactions on the Internet in 2020 increased to 641.6 billion UAH vs 337.2 billion UAH in 2019. It means that the Ukrainian consumer overcomes the barrier of distrust in e-commerce and is ready to pay online not only more often (1900.8 million transactions against 727.9 in 2019), but also to spend larger amounts. Living under quarantine restrictions did not leave room for maneuver even for that percentage of Ukrainians who did not trust online shopping and e-payments. People who have never made a purchase or paid for services online did so for the first time in 2020. Those who were apprehensive about online payments overcame their mistrust by choosing trusted stores and paying through well-known payment systems. They started with their own safety during a pandemic and suddenly found it easier to make payments that way.<\/p>\n
The financial sector also had to undergo the restructure. Banks must recognize that there is no need in the client\u2019s personal presence to conduct their identification, open an account, provide them with a service. Today you can and should translate the communication with customers online. This has given and will give in the near future a great impetus to the development of remote identification services, mobile banking, etc.<\/p>\n\t
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