OTP Bank joined the all-Ukrainian information campaign to promote non-cash payments
The National Bank has launched an all-Ukrainian information campaign with a promo of non-cash payments #Cashless. The purpose of the campaign is to inform Ukrainians about the benefits and convenience of non-cash payments.
As part of the campaign, the National Bank together with partners, including OTP Bank, will talk about current opportunities for widespread use of non-cash payments, including how to open a bank account, types of payment cards, online banking, how to make payments, and transfers through payment sites and marketplaces. In addition, they will explain in detail how NFC technology works, how to token a payment card and add it to a smartphone, "smart" watch, or fitness bracelet, as well as remind the basic security rules for non-cash payments.
"According to a survey conducted by the National Bank in 2020, 76% of Ukrainians have used a payment card in the last year, but only 21% have used online banking. A significant percentage of citizens, having received a salary, scholarship or pension on the card, withdraw money from it at an ATM and pay in cash," said Oleksiy Shaban, Deputy Chairman of the NBU.
He added that the older population of Ukraine needs the most support in mastering non-cash payments, especially in the regions, as this topic requires skills not only in financial but also in digital literacy. "That's why we expect young people to help the older generation get acquainted with the nuances of non-cash payments and teach them to pay for utilities online and buy online," said Oleksiy Shaban. Thus, the #Cashless campaign has not only an educational character but also acquires a social orientation.
"The National Bank has consistently pursued a policy aimed at increasing the share of non-cash payments. We have a Roadmap for the development of the non-cash economy until 2025, which provides for the gradual transition of Ukraine to the Cashless economy by stimulating non-cash expenditures, developing the infrastructure of non-cash payments, reducing cash use and ensuring the sustainability of payment infrastructure," said the Director of the Strategy and Development Department of the NBU Arsen Makarchuk.
"Today we see a clear trend to increase the number and volume of non-cash payments. Ukrainians increasingly prefer cashless payments. Cashless payments have already become a habit for many Ukrainians, which meets their current needs. At the same time, it is an indicator of both the growth of financial literacy and confidence in payment innovations. We are confident that thanks to the information campaign, citizens of all ages will find answers to all their questions and use various non-cash payment instruments even more often," commented Olga Vasyleva, Deputy Director of the Payment Systems and Innovative Development Department of the NBU.
For educational purposes, the National Bank is also launching a special web page (landing) "Cashless" with detailed information about the campaign and non-cash payments. The #Cashless information campaign will run for three months in all regions of Ukraine with the support of the International Finance Corporation (IFC) in partnership with the Swiss Secretariat for Economic Affairs (SECO) and the UK Good Governance Fund, the Individual Deposit Guarantee Fund and Cyberpolice. The campaign is a continuation of an information campaign on the security of cash payments and an anti-fraud campaign.
"Cashless is a real global trend that meets the main requirements of today. Of course, the pandemic has significantly accelerated the development of non-cash payments, in particular, due to increased attention to hygiene as an anti-epidemic measure. However, cashless payments have not yet become a stable and widespread habit of Ukrainians, especially when it comes to small populations and elderly people, so we have room to grow," said Oleg Klimenko, a member of the Board of Retail Business Development of OTP Bank.
According to him, compared to the same period last year, the number of card transactions, as well as their amount increased by a third. At the same time, 9 of 10 transactions were non-cash, which accounted for almost 90% of the total number of payment card transactions and 60% of their amount.
"However, payment for goods and services via the Internet accounted for only a quarter of non-cash transactions, while the vast majority - 60% - were card-to-card transfers, so these were the actual transfer of cash from hand to hand, only remotely," - said the banker. "The Ukrainian market is quite young compared to other markets, such as Europe. Therefore, on the one hand, it is easier to introduce innovations, but on the other - we need to work hard on the development of the financial literacy of the population. And this campaign is another step in the right direction," O. Klymenko said.
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Public Joint Stock Company OTP Bank is a subsidiary of OTP Bank, which is the largest independent Central-Eastern-European banking group. JSC OTP Bank is one of the largest domestic banks, a recognized leader in the financial sector of Ukraine. The Bank provides a full range of financial services to corporate and private customers, as well as to small and medium enterprises. The bank entered the Ukrainian market in 1998, and since then it enjoys a staunch reputation of socially responsible, reliable and stable institution providing its consumers with services of European quality standard.
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