Ukraine-based financial institution monobank has initiated the deployment of its own network of payment terminals.

In a social media update by Oleg Gorokhovsky, co-owner of Fintech Band, which develops and supports monobank, it was disclosed that the company’s founders are currently rolling out these new payment terminals in various Ukrainian cities. As of now, approximately 1,200 Mono terminals are operational with plans for further expansion across the country.

Through this move, customers within the region can top up their monobank cards without any additional fees. The bank aims to enhance user support and expand its service portfolio through these new payment points.

monobank’s offerings

As one of Ukraine’s pioneering branchless banks, monobank has designed services tailored to meet the needs of its customer base. The institution focuses on simplifying and making banking more transparent, aiming to facilitate easier use of digital money compared to cash transactions.

Since its inception in 2017 with the release of its first Black cards, monobank has continuously expanded its service scope. In recent years, it launched base by mono, a platform for monetizing creativity legally, and mono business, designed to manage business accounts. These initiatives have helped scale its user base significantly.

Ukraine’s banking landscape

As per recent data, the Net Interest Income in Ukraine’s banking market is anticipated to reach USD 4 billion by 2025. Traditional banks continue to dominate this segment with a market volume of USD 3.34 billion. However, there is an ongoing transition towards digital banking as more consumers opt for online and mobile banking services.