Number of card payments on the rise

The card payment indicators in the second quarter of this year remained on an upward trend, the number of cards in circulation rising by 7.6% compared with the corresponding period last year. The number of cashless payments with cards issued in the country grew by 32.5% on the same period of 2019, shows a report by the National Bank of Moldova that is quoted by IPN.

The number of active cards remained constant during the last quarters. The social cards are in the category with the highest use rate – 73.4% of all the cards. 62.2% of all the operations with social cards are cashless payment operations, but cash withdrawals by their value represented 79.4% of all the operations.

The number and value of domestic cashless payments grew throughout the analyzed period. The growth for the second quarter was of 54.5% by number and of 56.6% by value compared with the second quarter of 2019.

As regards the operations performed abroad with payment cards issued in Moldova, these were powerfully influenced by the travel restrictions imposed together with the declaring of the state of emergency in the country. The number of withdrawals decreased by 45.6%, while of cashless payments by 30.7% on the second quarter of last year.

The report also shows that the total value of frauds with cards issued in Moldova in the second quarter was 2.5 million lei. 90% represented frauds committed without the physical presence of cards. Of the total value of such frauds, 48.7% were committed in the foreign providers’ acceptance network.

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