The National Bank of Ukraine (NBU) said on Thursday that the amount of money transmitted via electronic payments in the bank's system in 2014 rose 13.6 percent, even though the actual number of transactions fell by 9.9 percent.

The amount transferred through the system totaled approximately $911 million over 313 million transactions in 2014. Approximately 1.25 million transactions occurred on an average daily basis and amounted to an average total of approximately $3.6 million.

Compared with the previous year, participants in the system saw the average balances day to day increase by 23.3 percent and the average money turnover factor decreased to 1.67 percent, as opposed to the 1.8 percent from 2013.
A majority of money that was funneled through the system came from Ukrainian banks, accounting for 93 percent of the total amount of transactions, consisting of 291.1 million of the total transactions that occurred.
The NBU surmises that this system is an effective one that provides participants with the fund-transfer services they need.