Economic Turbulence and Financial Technologies: Adaptation of Ukrainians to New Realities (Financial and credit activity problems of theory and practice)

Summary

• Cashless payment card transactions accounted for 65.4% of the total value of payment card transactions in Ukraine as of 1 January 2026.p.9
• Nine out of ten payment card transactions in Ukraine are cashless, reflecting a rapid shift towards digital financial services.p.1
• The payment services and money transfers segment accounted for 18% of the total Ukrainian FinTech market, ranking second overall.p.8
• According to a survey by the Ukrainian Association of FinTech and Innovation Companies, 69% of respondents view the payments segment as having the highest market potential.p.13

Key insights

1. Martial law and economic turbulence have significantly reshaped financial behavior in Ukraine, driving rapid adoption of remote and digital financial solutions.p.1
2. Point-of-sale transactions for goods and services recorded an average cashless card transaction value of UAH 354 as of 1 January 2026.p.9
3. Regulatory foreign exchange controls place a monthly transfer limit of UAH 100,000 on individuals, which is lowered to UAH 50,000 for high-risk customers.p.9
4. Intermediaries that actively monitor and act on customer experience data grow 3.2 times faster than competitors that ignore feedback mechanisms.p.10
5. Systemically important Ukrainian commercial banks closed numerous physical branches from 2021 to 2026, with JSC Oschadbank shuttering 706 branches.p.10
6. Regulatory implementation of Open Banking standards starting in August 2025 facilitates open API data access to enhance retail competition and service personalization.p.10