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2020 saw debit cards remain by far the most popular and most widespread type of financial cards in Ukraine, with there being three and half times the number of debit cards than credit cards in circulation. Debit card usage increased over the course of 2020 as the COVID-19 pandemic increased the importance of financial cards generally.
The impact of the COVID-19 pandemic during 2020 led to major changes being seen in the ways that bank accounts are opened and maintained. In particular, the social distancing imperative and in particular the quarantine lockdown that was in place in Ukraine during the first and second quarters of the year meant that many people were unable to attend a bank branch in person to open a bank account.
One of the most interesting trends in financial cards payments in Ukraine towards the end of the review period was the significant increase seen in consumer interest in e-wallets and the mobile apps that serve as the user interfaces for these virtual financial accounts. Mobile payment apps are becoming increasingly popular as a payment method in both the proximity and remote environments and while recent years have seen a steady increase in consumer interest in e-wallets and payment apps, the influence of the COVID-19 pandemic during 2020 saw their use take off.
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Discover the latest market trends and uncover sources of future market growth for the Debit Transactions industry in Ukraine with research from Euromonitor's team of in-country analysts.
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Euromonitor’s industry reports, including Debit Transactions in Ukraine, originate from our database within our Consumer Finance market share and market size database.
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