Ukrainian financial institution monobank has initiated the deployment of its own network of payment terminals.

Deployment and Expansion

The founders of monobank have commenced the installation of these new terminals in various Ukrainian cities. As of now, approximately 1,200 Mono terminals are operational, with plans to extend their presence across more urban areas. Oleg Gorokhovsky, a co-owner of Fintech Band and developer of monobank, shared this information through social media.

Benefits for Customers

With the rollout of these terminals, customers can now top up their monobank cards without incurring any fees. This move aims to enhance user convenience by providing more options within the banking ecosystem. Currently, monobank has a client base of 9.8 million users and processes over 1.9 billion transfers annually.

monobank’s Service Offerings

As one of the pioneers in branchless banking in Ukraine, monobank offers streamlined solutions tailored to its customers’ needs. The bank focuses on simplifying and transparent banking processes, making it easier for individuals to use digital money rather than cash.

Since its establishment in 2017, with the release of its first Black cards, monobank has expanded its services significantly. In recent years, the bank introduced mono base service for creative monetization and mono business for managing business accounts. These initiatives have helped scale the user base, extending the range of solutions offered to different segments.

Ukraine’s Banking Landscape

As per recent data, it is expected that in 2025, Ukraine’s banking market will see a Net Interest Income projection of USD 4 billion. While traditional banks continue to dominate with a market share of approximately USD 3.34 billion, the landscape is gradually shifting towards digital banking, where more consumers are opting for online and mobile banking services.