Press release
Ukraine Payments Landscape Market Trends and Growth Opportunities and Risks to 2021
GlobalDatas "Payments Landscape in Ukraine: Opportunities and Risks to 2021", report provides detailed analysis of market trends in the Ukrainian cards and payments industry.
The report analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period (2013-17e) and over the forecast-period (2017e-21f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.
The report brings together GlobalDatas research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.
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This report provides top-level market analysis, information and insights into the Ukrainian cards and payments industry, including -
- Current and forecast values for each market in the Ukrainian cards and payments industry, including debit and credit cards.
- It also, includes an overview of the country's key alternative payment instruments.
- E-commerce market analysis.
- Analysis of various market drivers and regulations governing the Ukrainian cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.
Scope
- The financial crisis of 2008 and the political crisis of 2013-14 had a significant impact on the countrys banking industry. The credit card market was particularly affected, with the number of credit cards in circulation experiencing continual decline from 2014 - a trend that is expected to continue for the next few years. Over 90 banks were declared insolvent between 2014 and 2017; as of May 2018 there were only 82 licensed banks operating in Ukraine, compared to 180 in 2014. This number is expected to further shrink due to consolidation. In January 2018, Alfa-Bank and Ukrsotsbank announced they would merge to form a single bank brand, and in April 2018, Sky Bank announced it is in talks to merge with Bank Sich.
- In order to promote electronic payments in the country, the National Bank of Ukraine (NBU) imposed restrictions on cash transactions between individuals and businesses. Effective from September 2013, cash transactions were restricted to UAH150,000 ($5,308.84) per day between individuals and individuals to businesses, and UAH10,000 ($353.92) between businesses. In January 2017 the limit was further reduced to UAH50,000 ($1,769.61) between individuals. Ukrainian law also mandates that merchants must support non-cash transactions.
- Ukraines card acceptance network is growing thanks to increased point of sale (POS) adoption among smaller merchants. According to the NBU, by September 2017 the number of businesses accepting payment cards had increased by 13.1% compared to the beginning of the year. Card payments are also being accepted for payments at metro stations and for parking. In September 2015 the Kyiv Municipal State Administration introduced contactless payments at city subway turnstiles, enabling Kyiv metro passengers to pay fares with Mastercard contactless cards. In August 2017, Kyivtransparkservis restricted cash payments for parking in Kyiv city, with payments now only accepted electronically (including via bank card).
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Reasons to buy
- Make strategic business decisions, using top-level historic and forecast market data, related to the Ukrainian cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Ukrainian cards and payments industry.
- Assess the competitive dynamics in the Ukrainian cards and payments industry.
- Gain insights into marketing strategies used for various card types in Ukraine.
- Gain insights into key regulations governing the Ukrainian cards and payments industry.
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