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UPC announced fresh figures on the use of payment cards by carders.
A few years ago, experts in the payment card market and financial technologies predicted that "plastic" would die in the coming years. However, bank cards are not only alive, but also continue to gradually gain popularity among users. Yesterday, during the conference "Card Business and Technologies 2021", organized by the Bank Online community, the Chairman of the Board of the Ukrainian Processing Center (UPC) Anton Romanchuk spoke about the latest trends in the development of the card industry and the prospects for using bank cards.
In the first quarter of 2021, the number of payment cards decreased - from 8.4 million units. in 2020 to 8 million, that is, by 5%. However, at the same time, the number of transactions made using payment cards increased by 18% - in the first quarter there were 184 million. The increase in the number of purchases paid with cards in online stores amounted to 15% compared to 2016. And the number of card transactions at POS terminals increased by 23% - from 31.58 million to 38.91 million in the first quarter of this year.
Also, according to Anton Romanchuk, the number of active payment cards continues to grow and in the first quarter of this year their share was 60.1% (compared to 58.3% in 2016).
Based on the key theses from the speech of the Chairman of the Board of UPC, we have identified the TOP-5 trends in the payment card industry.
Anton Romanchuk also announced the main prospects for the development of card products. This is, first of all, the introduction of NFC wallets, that is, the transfer of plastic cards to digital form. It is also the development of global e-commerce platforms such as Masterpass and Visa Checkout. As well as solutions that allow you to accept payments using a mobile, for example, mVisa.
A few years ago, experts in the payment card market and financial technologies predicted that "plastic" would die in the coming years. However, bank cards are not only alive, but also continue to gradually gain popularity among users. Yesterday, during the conference "Card Business and Technologies 2021", organized by the Bank Online community, the Chairman of the Board of the Ukrainian Processing Center (UPC) Anton Romanchuk spoke about the latest trends in the development of the card industry and the prospects for using bank cards.
In the first quarter of 2021, the number of payment cards decreased - from 8.4 million units. in 2020 to 8 million, that is, by 5%. However, at the same time, the number of transactions made using payment cards increased by 18% - in the first quarter there were 184 million. The increase in the number of purchases paid with cards in online stores amounted to 15% compared to 2016. And the number of card transactions at POS terminals increased by 23% - from 31.58 million to 38.91 million in the first quarter of this year.
Also, according to Anton Romanchuk, the number of active payment cards continues to grow and in the first quarter of this year their share was 60.1% (compared to 58.3% in 2016).
Based on the key theses from the speech of the Chairman of the Board of UPC, we have identified the TOP-5 trends in the payment card industry.
1. Users are increasingly paying for purchases using cards.
The number of financial transactions per active card per month was 5.4 in the first quarter, while in 2020 the same indicator was 5.0 transactions. At the same time, 61.5% are purchases (for comparison, in 2021 their share of the total number of financial transactions was 55.7%).2. Contactless payments.
Thanks to its convenience and speed, contactless payments are rapidly gaining popularity among carders. The number of transactions carried out using cards with support for contactless technology has more than tripled.3. More online purchases paid with a card.
15% of the number of purchases paid with bank cards are purchases on the Internet. The number of e-commerce purchases grew 17% in the first quarter compared to 2016. The most popular Internet merchants among carders last year were Portmone, Lifecell, the UZ website for the sale of railway tickets, EasyPay and iPay. From foreign resources - Alibaba / Aliexpress, Google, PayPal, iTunes and Wargaming.4. The boom of transfers from card to card has passed.
However, there remains a stable growth in the number of these transactions - + 16% in the first quarter of 2017 compared to last year. The average bill in this segment is UAH 1123.5. Cash withdrawals remain the main card operation.
In terms of turnover, cash withdrawal from ATMs is the leader among all transactions with payment cards. However, in terms of the number of transactions, the first place is taken by purchases paid with a card.Anton Romanchuk also announced the main prospects for the development of card products. This is, first of all, the introduction of NFC wallets, that is, the transfer of plastic cards to digital form. It is also the development of global e-commerce platforms such as Masterpass and Visa Checkout. As well as solutions that allow you to accept payments using a mobile, for example, mVisa.
