Ukraine Cards and Payments: Opportunities and Risks to 2028

The ‘Ukraine Cards and Payments: Opportunities and Risks to 2028' report provides top-level market analysis, information and insights into the Ukrainian cards and payments industry, including :

• Current and forecast values for each market in the Ukrainian cards and payments industry, including debit and credit cards.
• Detailed insights into payment instruments including cards and cash. It also, includes an overview of the country's key alternative payment instruments.
• Ecommerce market analysis.
• Analysis of various market drivers and regulations governing the Ukrainian cards and payments industry.
• Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• The competitive landscape of the Ukrainian cards and payments industry.

The ‘Ukraine Cards and Payments: Opportunities and Risks to 2028' report provides detailed analysis of market trends in the Ukraine cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cards and cash during the review-period (2020-24e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2024e-28f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together the analyst’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

Key Highlights

• Contactless payment options are growing in popularity, driven by the availability of contactless payments for public transport. In October 2023, BiPay (a provider of payment solutions for transport payments), In May 2023, the National Bank of Ukraine revised its Strategy of Ukrainian Financial Sector Development to focus on resisting Russian aggression and assist in redeveloping the country. In January 2024, the strategy was further supplemented to enhance financial inclusion and to provide undisrupted financial services. The main financial inclusion initiatives of the strategy include deploying mobile branches, expanding ATM availability, engaging commercial agents, and extending its branch network to areas affected by conflict and territories liberated from Russian control.
• As per the analyst’s Payment Cards Analytics, the number of contactless cards in the country increased from 23.9 million cards in 2020 to 75.3 million cards in 2024e, at a CAGR of 33.2%. Mastercard reports that Ukraine ranks among the top five countries globally for NFC payment adoption, with 63% of all contactless transactions using Mastercard cards occurring via NFC-enabled devices such as smartphones, smartwatches, and fitness bracelets. This trend is driven by the expanding infrastructure for contactless payments and the rising popularity of digital wallets such as Apple Pay, Google Pay, and Garmin Pay.
• Payment card growth is being supported by the rising adoption of contactless payments in public transport systems. In May 2024, PrivatBank partnered with Visa to launch contactless payments in suburban shuttle buses on the Kyiv - Boyark route. The new payment solution will use PrivatBank’s Terminal app, developed by PrivatBank using Visa’s Tap to Phone technology. Earlier in July 2023, the Kyiv City State Administration launched contactless payments on municipal buses in Kyiv using Apple Pay Express Mode. This contactless payment system allows users of Apple devices to purchase tickets using NFC technology without having to activate or authenticate their device.

Scope

• Card market size in terms of number of cards, value and volume of transactions in Ukraine along with detailed card segmentation of debit and credit cards available in the country.
• Market sizing and analysis of major payment instruments including cards and cash.
• Payment market trends and growth for both historical and forecast period.
• Competitor analysis with detailed insights into leading card issuers and schemes.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• A detailed snapshot of country's key alternative payment brands.

Reasons to Buy

• Make strategic business decisions, using top-level historic and forecast market data, related to Ukraine's cards and payments industry and each market within it.
• Understand the key market trends and growth opportunities in Ukraine's cards and payments industry.
• Assess the competitive dynamics in the Ukraine cards and payments industry.
• Gain insights into marketing strategies used for various card types in Ukraine.
• Gain insights into key regulations governing Ukraine's cards and payments industry.