Number of payments with mobile apps grows by half – PrivatBank

Ukrainians more actively used smartphones to pay bills and handle other financial transactions in the past year: the number of payments with mobile apps grew by 50%.

PrivatBank's press service reported that the number of transactions via the Privat24 mobile app increased from 8.9 million in March 2018 and to more than 15.8 million in March 2019.

Read alsoPrivatBank pays over US$40.8 mln in subsidies for utility services in March

Today, the number of transactions monthly handled via the Privat24 mobile app is twice higher than the number of operations at the bank's cash offices: 15.8 million versus 7.7 million transactions.

At the same time, PrivatBank's payment terminals remain more popular than the mobile app: more than 29 million financial transactions are handled via the bank's terminals per month.

UNIAN memo. The share of non-cash transactions with the use of Ukrainian banks' payment cards in 2018 reached 45.1%, which is 5.8 percentage points more than a year before.

Dnipro-based PrivatBank has been operating in the Ukrainian market since 1992 and is the largest bank in terms of assets. The bank was transferred to state ownership in December 2016. At the end of 2018, PrivatBank posted UAH 11.7 billion in profit, or nearly US$433 million.