Digital Financial Services in the Face of Contemporary Challenges (SCIENTIA FRUCTUOSA)

Summary

• The number of issued payment cards in Ukraine grew from 73.4 million to 148.5 million.p.3
• Active cards grew from 40.4 million to 65.4 million.p.3
• Successful identifications through the NBU BankID grew from 7.6 million to 109.4 million.p.3
• Diia app users increased from 2.5 million in 2020 to over 23 million by the end of 2025.p.3
• Ukraine recorded 95.2% of cashless card transactions by number in 2025.p.11
• As of 2024, the total Ukrainian FinTech market valuation amounted to USD 1.5 billion.p.9

Key insights

1. Digital finance is no longer an additional service but basic infrastructure for payments, remote identification and lending.p.3
2. In 2016 the National Bank estimated the total volume of P2P loans at approximately UAH 5 billion.p.8
3. 78% of FinTech companies are based in Kyiv and 38% operate in the international market.p.9
4. Main barriers include regulatory fragmentation, cyber risks, uneven access and the need to strengthen user trust.p.2
5. Priority policy steps include harmonizing BankID, payments and future open banking with European standards.p.15