PrivatBank, Ukraine’s largest and most profitable bank, is moving aggressively into the cashless economy.

PrivatBank, Ukraine’s largest and most profitable bank, is moving aggressively into the cashless economy. Last month, despite almost three weeks of lockdown, Ukrainians made 137 million cashless payments through PrivatBank trading terminals — almost double the 72 million recorded in January, 2020. The bank reported Monday that shoppers used cards to pay for $11.6 billion worth of goods through PrivatBank terminals, almost one third more than in 2019. The state-owned bank currently has 241,000 point of sale terminals. Almost 90% accept contactless payments by cards or smartphones.