Moldova Statistical Report 2023

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PAYMENTS IN MOLDOVA 

Moldova is a parliamentary republic with a unicameral Parliament (Parlamentul). It is a member of the Commonwealth of Independent States (CIS), the Organisation for Democracy and Economic Development (GUAM) and the Organisation of the Black Sea Economic Cooperation (BSEC), and is an observer of the Eurasian Economic Community (EurAsEC). 

About two-thirds of Moldova’s population is engaged in agriculture, while 20% of the labour force work abroad and remit around one-third of Moldova’s GDP back home, equivalent to $1.48 billion in 2020. 

Wedged between Romania and Ukraine, Moldova gained independence with most of the rest of the Soviet Union in 1992 and remains one of the poorest countries of the region. Moldova formed part of Romania until annexed by the Soviet Union in 1944, and retains strong links, including a common language. Today’s Moldova includes Transnistria, the territory unrecognised by the international community located on the border between Moldova and Ukraine, with a substantial ethnic Russian population. 

Russia has urged a policy of neutrality on Moldova and may attempt to frustrate Moldova’s integration with the EU. 

Moldova is only just starting the process of payment digitisation, with many of its banks only rolling out internet banking and mobile payment services in the last few years. Digital wallets and advanced payment services are yet to gain traction. As such, card transactions are traditionally split between POS payments and cash withdrawals, although POS payments now comprise the bulk of card transactions. 

But in a promising sign, mobile phone penetration (at a high 84.79% of the population) will likely be the driver of Moldova’s digital payment development over the next few years, aided by a stabilised banking sector which is receiving ongoing support from the EU for structural reforms, transparency and competition. 

STATISTICAL KEY FIGURES FOR 2022/23 PROVIDED IN THIS PROFILE:

New in 2023:

  • The full impact of COVID-19 on digital payments, card payments, e-commerce and m-commerce by market.
  • Real-time payments infrastructure and growth statistics by market.
  • Open Banking infrastructure, API roll-out, key players and key initiatives by market.
  • Contactless and mobile payments statistics by market.
  • Cryptocurrency, stablecoin and CBDC initiatives by market.
  • Full update on bank channel digitisation by market.
  • Forecasting column added for all the major tables.
  • Reader-friendly design with enhanced data visualisation.
  • Industry developments and bank deployments of eID, biometrics and AI.
  • The integration of digital challengers and neobanks into the banking infrastructure.

Updates For 2022-23:

  • Updated – Bank M&As, restructuring and market positioning. Customer number KPIs and adoption of digital channel KPIs.
  • Updated – Mobile banking apps and digital wallet initiatives.
  • Updated - PSPs by individual country.
  • Updated – Real-time payments uptake and QR code payments rollout.
  • Updated – Card fraud in Europe and by individual country.
  • Updated – Non-bank cards and co-brands.
  • Highlighting the new trends in the payment industry by individual country:

Contactless, mobile NFC, QR code, mPOS, SoftPOS services
Display cards, contactless ATMs, biometric authentication
Digital wallets, in-app payments, mobile in-store payments
Instant payments
eID initiatives
Cryptocurrency and CBCD initiatives

  • Updated: tables with card business data 2017-2021; growth rates: Y-o-Y, CAGR + Forecasting column
  • Population, Cards per Capita, Card Value per Capita
  • Debit Cards, Credit/Delayed Debit Cards, Total Cards
  • Card payments by number and by value, ATV per card, payments per card/year
  • ATMs, POS terminals, ATMs/POS terminals per 1 million capita
  • ATM withdrawals by number/by value, ATV per withdrawal, TXs per ATM/month
  • POS payments by number/by value, ATV per POS payment, TXs per POS/month
  • Internet Use, e-payment mix, B2C e-Commerce by value and growth rate
  • Issued Card brands by individual major issuer bank
  • Accepted card brands by individual major acquirer
  • Drill down into the debit card use and credit cards use details


PRODUCT INFORMATION

Digital product provided in PDF format. You will receive a download link to a zip file containing your files after checkout. 

VERSION

Version 1.1 - last updated 03/01/23