Payment Card Year Books

Ukraine Statistical Report 2024

Name: Ukraine Statistical Report 2024
Brand: Payment Card Year Books
Price: 300.00 GBP
Availability: InStock

£300.00

Product variants

Quantity

INTRODUCTION

Ukraine is a parliamentary republic with a unicameral legislature, the Supreme Council (Verkhovna Rada) under a semi-presidential system with separate powers: legislative, executive, and judicial branches. Its capital and largest city is Kiev.

Two brief periods of independence occurred during the 20th century, once near the end of World War I and another during World War II, but both occasions saw Ukraine’s territories consolidated into a Soviet republic, a situation that persisted until 1991; when Ukraine gained her independence from the Soviet Union in the aftermath of its dissolution at the end of the Cold War.

By the end of 2013, Ukraine faced difficult choices over its future adherence either to the EU or to Russia’s Eurasian customs union, with both partners warning that “Ukraine must choose one side or the other.”

The geopolitical consequences of Ukraine’s subsequent decision continue to unfold. To try and stabilise the economy, in March 2014 the IMF agreed a two-year, stand-by loan of $17 billion with the Ukrainian government, with conditions including a 30% devaluation of the hryvnia, fiscal austerity and raising domestic gas prices, subsidised to the extent of over 7% of GDP, to market levels. The loan was payable in tranches, subject to the conditions being met.

The Ukraine–European Union Association Agreement was signed in March 2014. It is an agreement between the European Union (EU), Euratom, Ukraine and the 28 EU Member States. It establishes a political and economic association between the parties. The agreement entered into force on September 1, 2017.

The parties committed to co-operate and converge economic policy, legislation, and regulation across a broad range of areas, including equal rights for workers, steps towards visa-free movement of people, the exchange of information and staff in the area of justice, the modernisation of Ukraine’s energy infrastructure, and access to the European Investment Bank.

On 1 January 2016, Ukraine joined the Deep and Comprehensive Free Trade Area with European Union, in order to modernise Ukraine’s economy, governance and rule of law to EU standards and gradually increase integration with the EU Internal market.

The NBU, banks, and payment schemes have fostered much innovation in Ukraine over the past couple of years – digital mobile wallets, online payments, and account-to-account transfers are all rising in usage, and the planned instant payment system being developed by the NBU will usher in even more non-cash usage.

Mobile banking is used by over 70% of the population, showing how Ukraine has achieved a high level of payment digitisation. In 2020, the National Bank of Ukraine and the Ministry of Digital Transformation of Ukraine (MDTU) joined forces to digitise the banking system via the Diia mobile app for ID. The partnership aims to allow bank customers who have an electronic passport or ID app to no longer require paper documents to confirm their identification in a bank office. As of the end of 2022, 99.9% of payment card users could access online services using the NBU’s BankID system.

The Russia-Ukraine Conflict - On the 24th of February 2022, Russia invaded Ukraine, a significant escalation of the conflict which began in 2014 when Russia invaded and annexed Crimea, and Russian-backed separatists seized part of the Donbas region in south-eastern Ukraine. Ukrainian president Volodymyr Zelensky enacted martial law and a general mobilisation of all male Ukrainian citizens between 18 and 60.

Ukraine’s industries, infrastructure, and economy have experienced major disruptions, which continue as of late-2023 when this report was compiled. Russian-owned banks have been liquidated, Russian-owned money transfer companies and e-money companies have ceased operating in Ukraine, and remittances between the two countries have reduced significantly. Ukraine’s government, central bank, regulators, and financial institutions have striven to keep banking and payment operations running as normal, and as of end-2023, Ukrainians can still access and use most forms of payment methods, although some operational disruptions are to be expected.

Given the situation in Ukraine, some central bank, and commercial bank data and payment statistics may be incomplete but all efforts have been made to source credible data from third parties where possible.

STATISTICAL KEY FIGURES FOR 2023/24 PROVIDED IN THIS PROFILE:

NEW IN 2024:

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 2023-24:

UPDATED – BANK M&A, RESTRUCTURING AND MARKET POSITIONING.
CUSTOMER NUMBER KPIS AND ADOPTION OF DIGITAL CHANNEL KPIS.
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.