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Ukrainians boost online payments by 69% in Q4 2017 – National Bank

Source : 112 Ukraine

The volume of non-cash transactions in Ukraine in the last quarter of 2017 stood at $3.88 billion.
18:21, 16 February 2018

Open source

The volume of non-cash transactions processed online using mobile banking and e-commerce in Ukraine in the last quarter of 2017 stood at $3.88 billion, meaning it grew by 69.1% against the same period, Interfax-Ukraine reports. 

According to the message published on the official website of the National Bank of Ukraine, the number of such transactions rose by 28.9%, as they amounted to 275.8 million units.

Related: Are Ukrainians ready for the cashless future?

The National Bank also points out a considerable rise in the volume of transactions whereby money was transferred from one card to another (54.1%), which exceeded $2.6 billion. At the same time, the volume of transactions in retail chains has risen by 35.9% and reached $2.7 billion. The quantity of this kind of transactions rose by 34.9%, to over 329 billion operations.

The volume of transactions using self-service devices rose by 60.9%, to $279 million, while their number by 8.5%, to 14.4 million.

Related: The National System of Mass Electronic Payments network rose to 80%

The total volume of non-cash transactions in 2017 was up by 46.16%, to $30.6 billion. Particularly, 38.8% of the total volume were transactions in the Internet, 31.9% were payments in trade networks, 26.4% transfers from card to card, and 2.9% transactions using self-service devices.

The total number of non-cash transactions last year increased by 30.2%, to 2.311 billion. In particular, 50.6% in the total number of payments were made in trade networks, 41% in the Internet, 6.1% were transfers between cards, and 2.3% transactions using self-service devices.

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