Surely if you want to predict how resilient ‘cashless’ societies are to systemic shocks, you could do worse than to to look at Ukraine, where I think it’s fair

Surely if you want to predict how resilient ‘cashless’ societies are to systemic shocks, you could do worse than to to look at Ukraine, where I think it’s fair to say power and network infrastructure underpinning digital payments have had a challenging operational environment for a few years now, and people have every reason to flee to the most secure and trustworthy ways of transacting. So what’s happening there? Reversion to a cash economy? Not really. > In 2023, most card-based transactions in Ukraine were cashless despite the full-scale war... cashless card-based transactions accounted for 65% of the total amount of card-based transactions last year, up from 61% in the pre-war year 2021. https://bank.gov.ua/ua/news/all/drugiy-rik-povnomasshtabnoyi-viyni-obsyagi-bezgotivkovih-rozrahunkiv-zrostayut https://bank.gov.ua/ua/news/all/drugiy-rik-povnomasshtabnoyi... > In Ukraine, digital payments have become mainstream with 60% of payments with Mastercard cards being made digitally today, ... For five years running, Ukraine has ranked among the top 10 countries worldwide at Mastercard by the number of NFC payments using digital cards. https://www.mastercard.com/news/eemea/en/perspectives/en/2023/leading-the-digital-payments-evolution-in-ukraine/ https://www.mastercard.com/news/eemea/en/perspectives/en/202...