Assessment of the payment card market and factors of influence on its development

The article assesses the level of the payment card market in Ukraine and substantiates the factors influencing their development and the development of non-cash payments. The issue of payment cards and active cards in circulation, ranking of banking institutions by the number of issued payment cards and by regions, distribution of non-cash payments by types of transactions and payment infrastructure network, as well as the dynamics of the number and volume of non-cash transactions using payment cards. Studies confirm that the development of modern innovative technologies are important factors influencing the development of non-cash payments: thanks to the cooperation of the national payment system (NPS) «SPACE» and the international payment system UnionPay on the Ukrainian market appeared the first co-payment card - Union «SPACE – International», which combines the technologies of two payment systems and their advantages, Innovative services of Google Pay and Apple Pay allowed their customers to link bank accounts in the system and pay by phone or smart-watch with built-in NFC system, which increased the number of completed operations due to NFC transactions. The article proves that all the above factors and due attention to the development of modern innovative technologies and payment products in the field of non-cash payments will accelerate the growth of non-cash transactions and reduce cash, and that social distance and remote work caused by pandemics and quarantine minimized the use of cash. In situations of innovation, they generate innovations and increase the possibilities of overcoming the crisis

payment cards, cashless payments, payment infrastructure network