Ukraine-based financial institution monobank has announced that it has begun launching its own network of payment terminals.
According to a social media post by Oleg Gorokhovsky, the co-owner of Fintech Band, the company that develops and supports monobank, the founders of the financial institution have started installing the new payment terminals in Ukrainian cities and developing their replenishment network. At the time of writing, approximately 1,200 Mono terminals were in operation, with plans to further expand them to more cities across the country.
With the newly rolled out terminals, customers across the region can top up their monobank cards without encountering any fees. Through this move, monobank seeks to further support its users, allowing them to benefit from a wider range of options when it comes to their banking operations. Currently, according to its website, the bank has 9.8 million clients, with the financial institution processing 1.9 billion transfers.
monobank’s offering
As one of the first branchless banks in Ukraine, monobank developed its offering to fit the needs of its users, providing simplified and optimal solutions. The financial institution is committed to making banking simple and transparent, focusing on allowing individuals to use digital money more easily and engagingly than cash.
Since its launch in 2017, when it also released its first Black cards, monobank has centred its efforts on expanding its operations and service portfolio. Fast forward to 2024, the financial institution opened base by mono service, a tool for legal monetisation of creativity, and launched mono business, a tool for business account management. Through this, the bank scaled its user base, extending its solutions to more segments.
Ukraine’s banking landscape
According to recent data, in 2025, the expected Net Interest Income in Ukraine’s banking market is projected to reach USD 4 billion, with traditional banks continuing to dominate this segment, with a market volume of USD 3.34 billion. Currently, the banking landscape is going through a shift towards digital banking, with more consumers deciding to leverage online and mobile banking services.
