Expert opinion

From year to year, the share of non-cash transactions is gradually increasing, and the number of cash withdrawal transactions is decreasing accordingly. Thus, in less than 4 years, the number of cash withdrawal transactions has decreased by almost 2.5 times. At the same time, most transactions are carried out using NFC gadgets.

A detailed overview of payment card transactions for the first 9 months of 2024 from the Center for Economic Research and Forecasting “Financial Pulse” is available at the link: http://finpuls.com/ua/banking/reviews/news/Populyarnst-platzhnih-kartok-zrosta.htm).

According to the NBU, as of 10/01/2024, there were 68.9 million individuals and 1.6 million legal entities holding electronic payment instruments. There are 122 million payment cards in circulation, of which 54 million were active, on which expenditure transactions were observed during September. Compared to the beginning of the year, the number of cards increased by 6%.
The largest number of active cards was issued by PrivatBank - 42.69% of the total. In second place is Universal Bank - 17.04% of cards from the total, in third place is Oschadbank, the share of cards of which is 13.95%.
The card infrastructure included 15,763 ATMs, 13,276 PTKS (software and technical self-service complexes) and 512,918 payment terminals. Compared to the beginning of 2024, the number of terminals increased by 9%.

The top five regions in terms of the number of self-service devices include:

• Kyiv;
  
• Dnipro;
  
• Odesa;
  
• Kharkiv;
  
• Lviv regions.

Іn these regions, the number of self-service devices is 48.38% of the total. Kyiv remains the leader: 17.8% of devices from the total number in the country.
The top three banks by the number of self-service devices: PrivatBank - 59.48% of the total number of devices, Oschadbank (17.84%) and Raiffeisen Bank - 4.87%.
According to the results of 9 months of 2024, 6.4 billion card transactions were carried out for a total amount of UAH 4,791.3 billion (taking into account transactions both in Ukraine and abroad). Compared to the same period in 2023, the increase in the monetary volume of card transactions was 4.45%, and the number of transactions increased by 7.72%.
At the same time, non-cash transactions accounted for 64.81% of the total monetary volume of transactions, and 94.5% of the total number of transactions (compared to the same period last year, the share of non-cash transactions increased by 1 percentage point).
Of the above total volume, in 9 months of 2024, 252.2 million transactions were carried out outside the country using cards of Ukrainian banks for a total amount of UAH 257.1 billion. Compared to the same period in 2023, the monetary volume of transactions abroad decreased by 6.95%, and the number increased by 2.19%.

Regarding the structure of transactions abroad: according to the results of 9 months of 2024, settlements using payment terminals accounted for 77.17% of the total monetary volume of transactions (compared to the same period in 2023, their share increased by 12.06 percentage points). The number of non-cash transactions abroad amounted to 97.3% of the total (compared to the same period of 2023, the share of the number of non-cash transactions increased by 2.65 percentage points).

According to the results of 9 months of 2024, 4544.3 million transactions were carried out within Ukraine for a total amount of 2861.5 billion UAH. Compared to 9 months of 2023, the monetary volume of transactions increased by 16.07%, and their number increased by 20.81%. At the same time, non-cash payments accounted for 43.13% of the monetary volume.
Compared to the same period of last year, the growth in the volume of non-cash transactions is 3.57 p.p. The share of non-cash transactions in January-September 2024 was 92.39% (compared to the same period last year, it increased by 2.35 pp).
Thus, according to the results of 9 months of 2024, 91.76% of transactions were carried out in Ukraine from the total monetary volume of transactions with payment cards issued by Ukrainian banks (according to the results of 9 months of 2023, this indicator was at the level of 89.92%) and 94.74% of the number of transactions (versus 93.84% for the same period in 2023).
When using payment terminals, the main volume of transactions in 9 months of 2024 was carried out through contactless payments using NFC gadgets (56.4% of the volume and 54.8% of the number). In second place in popularity are contactless payments using cards (37.8% of the volume and 40.5% of the number). Transactions with physical reading of the card carrier account for only 5.8% of the total volume and 4.7% of the total number of transactions.

Conclusion

The number of non-cash transactions is gradually increasing. For comparison: according to the results of 2020, cash withdrawals from cards amounted to 13.11% of the total volume of card transactions, in 2021 the share of such transactions decreased to 9.94%, and in 9 months. 2024, only in 5.52% of cases did cardholders use them to withdraw cash.

In addition, the use of NFC technologies is actively developing, which are leading by a significant margin compared to other methods of card payments.

 

Source of analyzed data: NBU website.

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Reference:

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