Click, add, and you’re done: Visa launches new technology in Ukraine
14 February 14:07
Visa is launching a new Tap to Add Card technology in Ukraine, which marks a new stage in the process of transferring card data to digital wallets. This was reported by Visa, according to
The company hopes that the introduction of the new technology will facilitate the further spread of digital wallets in Ukraine, solve key security issues, and simplify user interaction.
What is Tap to Add Card?
Tap to Add Card is an innovative technology that responds to the growing need for secure and optimized digital payment solutions. It allows cardholders to add contactless Visa cards to their digital wallets by simply tapping them on their mobile device.
As explained in the company, by providing increased security and convenience, Tap to Add Card eliminates the need for the cumbersome process of manually entering a card number, which causes errors and creates vulnerabilities that fraudsters exploit to gain access to sensitive account data. Upon tapping, a unique one-time code is generated, verified by Visa Chip Authenticate, and the card details are securely transferred to the wallet, offering a much faster and safer alternative to traditional methods.
Tap to Add Card quickly gained popularity around the world after Visa introduced it last September among other services aimed at improving the digital payment experience. Since then, PrivatBank, Universal Bank, and the International Investment Bank have implemented it.
The technology is supported by digital wallets around the world, providing full integration with existing digital wallet services.
Not only Visa offers its capabilities to Ukrainians
The British neobank Revolut has officially started working in Ukraine and now Ukrainians have the opportunity to open European accounts and use modern financial services.
Revolut users in Ukraine now have access to instant free transfers in the app, opening European accounts in a few clicks, and using the “Diia” identification system, which increases the level of security. The company has also launched a special Clear Sky debit card, which can be obtained by making a charitable contribution.
More and more Ukrainians are using cards
In the first nine months of 2024, the total number of payment cards issued in Ukraine reached 122.1 million. The number of payment cards used for monthly expenditure transactions also increased at the same rate. Thus, the number of active cards increased by 5% – from 51.6 million in January to 54.1 million in September. This was reported by the NBU.
The total number of contactless payment cards is also growing. As of September last year, their number increased by 9% compared to January. Overall, more than half (61.4%) of active payment cards in September were contactless cards.
Tokenized payment cards are also popular among Ukrainians, the number of which has increased by 19% (to 14.9 million) since January 2024. Among all active cards, their share is almost 28% (in January 2024 – 24%). That is, about one in four active payment cards is tokenized.
As a result, the share of contactless transactions (with a contactless card or using smartphones and other gadgets) continues to grow.
