“When leading banks in card issuance change partner priorities in cooperation with payment systems, this is reflected in market statistics,” commented UAPAY CEO Julia Fedosiuk on the NBU data for the first quarter of 2025 on the number of cards of international card payment systems.
The business publication Forbes Ukraine analyzed the situation regarding changes in the payment market: for the first time in 15 years, Visa overtook Mastercard in the number of cards issued in Ukraine.
In the first quarter of 2025, the number of Visa cards in Ukraine increased by 8.8% and reached 69.2 million, while Mastercard lost market share. The main reason is more attractive conditions for partner banks. Thus, in October 2024, Monobank transferred most of its clients to Visa, which became one of the key factors in the changes.
According to Julia Fedosiuk, this decision affected the statistics, as the bank is among the leaders in card issuance.
As a market participant, UAPAY daily observes how strategic steps of banks and fintech companies change the dynamics of the payment infrastructure.
Read the full article at the link: https://forbes.ua/money/krashchi-tarifi-ta-borotba-za-kadri-visa-vpershe-za-15-rokiv-viperedila-mastercard-za-kilkist-kartok-v-ukraini-yak-iy-vdalos-viboroti-liderstvo-12062025-30467