Ukrainian payment sector highlighted at Visa Cashless Forum

Earlier this year, Kiev played host to the 4th Visa Cashless Forum. In total, more than 300 participants gathered to discuss this year’s topic: “Driving the Future”. During the event, leading experts lead discussions surrounding trends and directions in the development of the payment sector in Ukraine. Some of the key topics discussed at the forum were: the level of financial literacy in Ukraine, how “smart” Ukraine is, taxation issues and narrowing the gap between the number of non-cash transactions and the number of cash transactions in the Ukrainian market.

Ukraine has become a top-3 country in the region for contactless transactions, emphasizing the country’s willingness to adopt payment innovations such as those that allow smartphones to become POS terminals and a payment system based on facial recognition. Ukraine is expected to continue to serve as a model in the region for innovative payment solutions that help businesses grow and make consumers’ lives easier.