Contactless payment use grows three-fold in five months in Ukraine

Payment for goods and services using contactless payment cards is gaining popularity in Ukraine.

The Ukrainian Processing Center (UPC) has recorded a threefold increase in the turnover and the number of transactions using NFC-supported cards emitted by UPC’s five partnering banks. The average transaction value increased slightly from 48 hryvnias at the end of December 2013 to 50 hryvnias (approximately $4.2) today.

The number of terminals accepting contactless payment cards has increased by 8% to 8,734 since the beginning of the year.

“Contactless payment cards are more and more convenient and popular in many countries of Central and Eastern Europe, and Ukraine is not an exception,” notes UPC chairman Anton Romanchuk. “Ukrainian banks have slowed down investment in contactless terminals due to the difficult situation on the market this year. However, three more of our partnering banks have launched NFC card projects because they believe in their future.”

Source: Pro IT

Topics: Data & reports, E-payments, Payments & fintech
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