How Payment Habits of Ukrainians Are Changing: The Share of Cash and Digital Payments in 2024
According to the MasterIndex study by Mastercard, in 2024, digital payment methods are becoming increasingly popular among Ukrainians. Currently, 61% of respondents make purchases using contactless digital cards via smartphones or other NFC-enabled devices. Compared to 2021, this figure has increased by 21 percentage points.
This is reported by AgroReview
Trends in the Use of Digital Banking Services
Half of the respondents already have a digital card in their wallet, while 41% exclusively use virtual cards without a physical counterpart. Nine out of ten respondents actively use mobile apps or online banking to manage their finances. The demand for enhanced banking app features is growing: 36% of clients require detailed analysis of income and expenses, 25% expect budgeting advice, and 18% seek asset management consultations.
Half of digital banking users are ready to fully switch to digital service channels, and 70% plan to make this move in the next six months. This is 12 percentage points higher than last year.
Online Payments, Cash, and Innovative Expectations
E-commerce continues to show positive dynamics: over 90% of respondents made online purchases in 2024, with 59% doing so regularly throughout the month. In 2021, this figure was 14 percentage points lower.
The level of cash payments upon receipt has decreased to 36%. In contrast, 33% pay for purchases through digital wallets at checkout, while 41% use bank cards via terminals upon delivery.
In physical stores, 69% of Ukrainians prefer cashless payments, while only 12% of shoppers use cash.
“More than half (51%) expect personalized discounts and offers based on their purchase history, indicating a growing demand for individualized financial services.”
23% of respondents would like to use solutions like ‘scan and go’—scanning items for automatic payment. There is also a rising interest in financial literacy among children: 37% of parents with children under 16 have already opened payment cards for them, while among others, 65% plan to do so in the near future.