In January-June this year, payment systems transferred $1.306 billion to Ukraine, with Western Union (USA) receiving the largest amount of funds – 48.6% of all transfers, the National Bank of Ukraine reported on Friday.
According to the report, MoneyGram (USA) took the second place in the market, increasing its share by 4.3 percentage points to 21.6% compared to May-December last year and overtaking PrivatMoney, whose share dropped from 20% to 13.5%.
In addition, the share of RIAs increased from 9.7% to 12.35%, and the share of Intelexpress increased from 2.7% to 3.04%.
According to the National Bank, a total of 5.72 million cross-border transfers were made, with the largest amount of funds coming to Ukraine from Italy (20.85%), the United States (17.74%), Israel (15.59%), Germany (8.61%) and Ireland (5.2%). The average amount of one such transfer to Ukraine was $228.
In May-December last year, 10.4 million transfers were made for $2.149 billion, with Western Union’s share at that time amounting to 49.5%, the NBU reminded.
The NovaPay payment system remained the leader in domestic money transfers in terms of systems, but the share of transfers made through it decreased from 45% in May-December 2022 to 35% in the first half of this year.
The Financial World system of Ukrainian Payment System LLC came in second place with a share of 15.6% (12.72% in 2022), while the LEO payment system, which held the top spot last year, had its registration revoked by the National Bank in March of this year.
The Moneycom payment system of Swift Guarantor LLC rose from 7th place in the ranking in May-December 2022 (2.51%) to the top three in the first half of 2023 with a share of 12.4%.
The positions in the ranking of the next three market participants have not changed: Ukrposhta is in fourth place in terms of the amount of transfers – 10.3% (12.22%), City 24 FC Phoenix – 7.93% (3.39%) and PrivatMoney PrivatBank – 5.65% (2.61%), followed by Platiservice – 5.15% (1.74%).
In terms of participants in the first half of the year, the share of NovaPay decreased to 35.58% (45.46%), Ukrposhta – to 10.29% (12.22%), while FC “Kontraktovyi Dom” increased to 13.26% (9.92%), and “Swift Guarantor” – to 18.71% (3.79%). The National Bank reminded that in early March it withdrew from the market Aibox Bank, which held 11.57% of the market in May-December last year.
According to the NBU, 390.2 million domestic transfers amounting to UAH 300.6 billion (or $8.221 billion in equivalent) were made in the first half of the year, with the average amount of one transfer within Ukraine amounting to UAH 770.
In May-December last year, transfers amounted to 446.35 million for UAH 292.6 billion.
It is noted that as of July 1 of this year, 35 money transfer systems were operating in the country, including 26 resident and 9 non-resident ones.
