Cashless payments in Ukraine: Trends and statistics for the third quarter of 2023

Cashless payments in Ukraine remain high and continue to grow, according to statistics for the third quarter of 2023 provided by the National Bank of Ukraine. During this period, 1,972.5 million transactions were made using payment cards issued by Ukrainian banks, with a total value of UAH 1,407.1 billion.

Cashless transactions remain popular among Ukrainians, accounting for 63.3% of the total amount of payment card transactions. This shows a continuation of the trend announced in the previous quarters, where the share of non-cash transactions was also high - 62.1% and 92.8%, respectively.

The retail network remains the most popular place to make transactions, accounting for 73.6% by number and 47.0% by value of all card transactions. Internet payments also account for a significant share - 14.5% by value and 13.9% by number.

The average transaction amount varies depending on the type of payment. For example, the average amount in the retail network is UAH 309, for card-to-card transfers - UAH 1,854, and for payments for goods and services on the Internet - UAH 504.

Statistics also show a downward trend in the use of cash in circulation in Ukraine. As of September 2023, the total number of payment cards issued reached 112.4 million, an increase of 3% compared to the beginning of the year.

The popularity of contactless payment cards is growing, accounting for more than half (58%) of all active cards in September. The number of tokenized cards is also significant, having increased by 32% since the beginning of the year.

Ukrainians continue to actively use cashless payments, preferring the convenience and security of electronic payment instruments. At the same time, the growing digital economy in Ukraine supports the steady growth of non-cash transactions in various segments of the economy.