A comprehensive overview of the cards, payments and consumer banking market in Ukraine.
Demographics and Economy:
Outlines the key metrics and trends which influence the development of retail banking and payments in the country:
Explores the structure of the local banking system, its infrastructure and the leading players. Data includes:
Overview of consumer finance in the country. Categories analysed include:
Industry-leading credit card coverage. We detail the past present and future of the industry through our data and commentary, including:
Demographics and Economy:
Over two-thirds of Ukraine's population live in urban areas. The industrial regions in the east and southeast are the most populated parts of the country. Ukraine is a mixed economy with limited private freedom combined with centralised economic planning and government regulation.
Ukraine's retail banking sector is highly concentrated, with the top five banks accounting for 54% of the total banking assets.
The biggest consumer lenders in the country are PrivatBank, Ukreximbank, Oschadbank, Raiffeisen Bank Aval and Ukrsibbank. All these banks have branch networks spanning the majority of the country.
Banks and major players in the Ukraine payments market are focused on increasing card usage through technological advancements including contactless payments and mobile wallets.
Closed-loop cards, which have been in the market since 2001, constitute the majority of the Ukrainian prepaid cards market.
Credit card activity in Ukraine is significantly lower than that of debit cards. The absence of a well-developed revolving credit cards market and huge volume of inactive cards has restrained credit card profitability.
Pricing and Enhancements:
Credit card issuers in Ukraine have followed a cautious approach due to the challenging political and economic environment in the country. This conservatism has impacted their policies towards offering new credit card products.
The Card Networks:
In Ukraine, Visa and Mastercard dominate the credit cards market and the collective payment cards market in terms of both number of cards and billed volume. Mastercard is also the leading network for debit cards in Ukraine in terms of both number of cards in issue and billed volume.
Key Retail Banks and Issuers:
Three major issuers dominate the Ukraine credit and debit cards market: PrivatBank, Oschadbank and Raiffeisen Bank Aval.
Merchant Acquirers and Processing:
Acquirers typically offer lower fees for on-us transactions than from transactions on cards issued by other banks. This gives PrivatBank a huge advantage in winning merchant accounts.
Cash On Delivery (COD) is the most popular means of online payments in Ukraine, accounting for around 80% of online payments.
Verisk financial reports include detailed market and competitor intelligence on payments cards, e-money, acquiring, retail banking, and consumer credit in Europe. Analysts use primary and secondary source data and conduct in-depth interviews with senior industry executives and finance experts.
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