Ukraine seen as leader of innovations in non-cash transactions

“Of course, if we compare Ukraine with Europe in terms of the amount of money flowing through non-cash channels, we are still an emerging market. But if we look at Ukraine in terms of adaptation of innovations, then I would say that we are seen as a leader in this direction,” Vira Platonova, Senior Vice-President and Group Country Manager, Visa CISSEE, said in an interview with the Focus magazine.

According to her, the electronic payment systems on mobile devices, which are available in Ukraine, have not reached many European markets yet.

“For example, Apple Pay and Google Pay, which work in Ukraine, have not yet entered all European markets. In addition, contactless transactions in many countries are far less common than in Ukraine because of the unwillingness of retailers to receive such payments,” the Senior Vice-President said.

Ukraine has startups and financial technology solutions that Europe and other parts of the world lack, Platonova stressed.

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