PROSPECTS AND OPPORTUNITIES
Fraud remains a serious challenge, potentially reduceable with SCA
Card fraud remains a persistent issue in Ukraine, with scams often involving social engineering tactics to access customers’ online banking credentials, with the client authentication for banks in Ukraine conducted via mobile phone numbers – usually by the means of a one-time verification code sent by SMS. Within this context, the NBU has increased efforts to educate consumers about these risks.
Major player Monobank turns to Visa
In late 2024, Monobank - a major credit card issuer in Ukraine - shifted its partnership from Mastercard to Visa for all newly issued cards, which is likely to influence operator shares in the market. Monobank has maintained its reputation as an agile neobank, boasting the world’s fastest card issuance process of just 99 seconds, thanks to integration with the government’s Diia app.
Category set to see entrance of non-traditional players over the forecast period
The Ukrainian financial landscape will likely see increased competition and innovation in digital payments over the forecast period. As cashless options grow in popularity, banks, fintech companies and telecom operators are expected to develop solutions beyond traditional credit cards, including mobile wallets and integrated financial platforms.
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Overview:
Understand the latest market trends and future growth opportunities for the Credit Card Transactions industry in Ukraine with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Credit Card Transactions industry in Ukraine, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Credit Card Transactions in Ukraine report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Credit Card Transactions in Ukraine?
- What are the major trends key to understanding Credit Card Transactions in Ukraine?
- How has COVID-19, recession and macroeconomic volatility impacted the market?
- How long will the market take to recover? What are the opportunities now?
- How will political context and shifting cultural values shape future growth?
- Where is future growth expected to be most dynamic?
Credit Cards in Ukraine - Category analysis
Credit Cards in Ukraine - Company Profile
KEY DATA FINDINGS
Falling interest rates support resilient market
New regulations aimed at responsible use of credit
Credit cards benefits from familiarity and convenience during crisis
Fraud remains a serious challenge, potentially reduceable with SCA
Major player Monobank turns to Visa
Category set to see entrance of non-traditional players over the forecast period
Debit Cards in Ukraine - Category analysis
Debit Cards in Ukraine - Company Profile
KEY DATA FINDINGS
Debit cards remains largest category, with contactless payments now the norm
Strategic shift to digital wallets continues, driven by convenience and security of biometric authentication
National cashback program aims to support local players
Financial inclusion presents challenge and opportunity
Digitalisation will accelerate throughout forecast period
Payment tokenisation set to reinforce security and boost e-commerce payments
Pre-Paid Cards in Ukraine - Category analysis
Pre-Paid Cards in Ukraine - Company Profile
KEY DATA FINDINGS
Open-loop pre-paid unavailable in Ukraine
Closed loop pre-paid cards faces intensified competition
LeoKart proves popular in Lviv
Open loop pre-paid cards unlikely to make a comeback in Ukraine
Virtual version of public transport closed loop pre-paid card now available in Kyiv
Kyiv Digital as model of integrated city services
Financial Cards and Payments in Ukraine - Industry Overview
Financial cards and payments in 2024: The big picture
2024 key trends
Competitive landscape
What next for financial cards and payments?
DISCLAIMER
The following categories and subcategories are included:
Credit Card Transactions
- Commercial Credit Card Transactions
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- Average Personal Credit Card Balance
- Average Personal Credit Card Limit
- Personal Credit Card Utilisation
Credit Card Transactions
Credit cards allow for purchases against a preapproved line of credit. The account holder has the choice of whether to pay off the entire balance each month or opt for monthly instalments with the balance serving as revolving credit. If the cardholder decides to revolve a balance, the consumer pays interest. Credit cards can include affinity cards, reward cards and types of co-branded cards. Co-branded retailer cards—issued by retailers acting as financial institutions and without usage restrictions—are included in this category. Cards issued by a retailer with usage limited to a specific store within a predefined retail group fall under the store cards definition. Debit cards with an overdraft function are not counted as cards with a credit function. Payments are tracked based on the country of residence / account issuance and include outbound spend while excluding inbound spend.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Credit Card Transactions research and analysis database.
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