From year to years Ukraine sees continuous but still slow growth of cashless settlements. However, irrespective of increase of cashless settlements share, Ukraine has still a long way to go to reach the other countries’ level of use of this payment instrument.

According to Kateryna Chernaya, the Head of Directorate on work with payment cards of Eurobank, the implementation of payment technologies to the Ukrainian market has been taking place for not so long – since 1996 (for comparison: in USA – since 1949, in Europe – since 1960).

According to NBU data, as of July 1, 2011 the volume of cashless operations in Ukraine makes 8% of payment transactions (only by 1% more than for the corresponding period of 2010). While in Europe, for instance, the share of cashless operation makes 20% of total transactions.

What then bars the market of payment cards to develop? – read in Distance Selling Digest soon

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Source: finance.liga.net