Irina UNTILA, Country Manager of Mastercard in Moldova
BC: Irina, how would you characterize the cashless payment market in Moldova and its development in recent years?
Irina Untila: The cashless payment market in Moldova has fundamentally changed over the past quarter-century, transitioning from an era of cash to modern payment technologies. In the last few years, we've seen a real turning point, as the country has made a significant "digital leap".
The number of cards in circulation has nearly doubled in five years, and the terminal network has expanded by roughly the same amount. But most importantly, user behavior has changed. While cards were previously used mainly for withdrawing cash, today, according to the National Bank's statistics, 9 out of 10 card transactions are payments. And this cashless trend is strengthening every year.
Notably, in Moldova "cashless" has effectively become synonymous with "contactless". Nearly 100% of all Mastercard point-of-sale payments are contactless. This is an outstanding result that has allowed Moldova to take its honorable place among the world's leading countries.
50% of all payments with Mastercard at physical points of sale in Moldova are now payments using mobile wallets.
Irina Untila, Country Manager of Mastercard in Moldova; Daniela Dontu, Marketing Manager, Mastercard Moldova; Natalia Stepanova, Account Manager, Mastercard Moldova
BC: You mentioned a "digital leap". Could you elaborate on what exactly this is about and what enabled it?
Irina Untila: First and foremost, we are talking about the rapid development of NFC payments through mobile wallets ā contactless payments with digital cards via smartphones and other gadgets. This year, we reached a record figure: 50% of all payments with Mastercard at physical points of sale in Moldova are now payments using mobile wallets. Basically, just three years after the first digital wallets appeared on the country's market, every second payment in retail is a smartphone payment now. Not every European country can boast such a result! This became possible thanks to the high penetration level of contactless payments, a well-developed acceptance network, and the market's adaptability to technological innovations. Users in Moldova are quick to adopt new technologies, while banks and fintech companies are eager to embrace new trends and implement innovations
BC: What new global trends in payments are you observing, and which of these are applicable in Moldova?
Irina Untila: Among the global trends, I would highlight tokenization, the evolution of digital wallets, and artificial intelligence ā they are shaping the future of the payment industry today.
Tokenization is the fundamental technology of modern digital payments and the foundation for how digital wallets work. Its principle lies in replacing real card data with a unique digital code ā a token ā which provides additional protection for user data. In the future, thanks to tokenization, digital wallets will transform into "super wallets", combining cards, tickets, loyalty programs, digital documents, and access keys in one place, becoming a single point of access for digital services.
As for AI, this trend will become one of the key drivers of change in industry. This is not a new technology for Mastercard ā we have been using it for many years to increase the efficiency and security of payments. Every year, we analyze 143 billion transactions worldwide using AI and machine learning models. This allows us to provide our partners with recommendations for fraud prevention and improving customer experience.
Already today in Moldova, we are exploring the possibilities of comprehensively applying AI in the banking sector, particularly for optimizing business processes, improving the quality of service, and creating a more personalized consumer experience.
Tokenization, the evolution of digital wallets, and artificial intelligence ā these trends are shaping the future of the payment industry today.
Dumitru Ciucium, Consultant, Advisors & Consulting Services, Mastercard Moldova; Valeriu Stratan, Director of Digital Partnerships, Mastercard Moldova
BC: You also actively collaborate with the retail sector. What finan - cial innovations should we expect in this area?
Irina Untila: Today, our partners in Moldova include both large local players and leading global companies. We strive to provide cashless servi - ces and additional benefits for users in every life situation and need ā from daily grocery shopping at the largest supermarket chain Linella, or orde - ring goods on the global marketplace Temu, to product delivery via Glovo or a wide range of services at the flagship sports and entertainment complex ChiČinÄu Arena. In addition to expanding the acceptance network and providing special offers, we are also working with our partners to deve - lop innovative financial services. One of these is "Cash la casÄ". This solution will allow cardholders to withdraw a small amount of cash directly at the point of sale when paying for a pur - chase with their card. Such a service will provide broader access to funds, which will be especially relevant for locations with limited access to ATMs. Equally important, the service will gra - dually change user behavior: from the habit of withdrawing money "just in case" to more flexible personal finance management.
We act boldly, take responsibility, and never wait for the perfect moment ā instead, we seize every opportunity, fostering an environment where everyone becomes a co-creator of our shared success.
BC: You also actively collaborate with the retail sector. What finan - cial innovations should we expect in this area?
Irina Untila: Today, our partners in Moldova include both large local players and leading global companies. We strive to provide cashless servi - ces and additional benefits for users in every life situation and need ā from daily grocery shopping at the largest supermarket chain Linella, or orde - ring goods on the global marketplace Temu, to product delivery via Glovo or a wide range of services at the flagship sports and entertainment complex ChiČinÄu Arena. In addition to expanding the acceptance network and providing special offers, we are also working with our partners to deve - lop innovative financial services. One of these is "Cash la casÄ". This solution will allow cardholders to withdraw a small amount of cash directly at the point of sale when paying for a pur - chase with their card. Such a service will provide broader access to funds, which will be especially relevant for locations with limited access to ATMs. Equally important, the service will gra - dually change user behavior: from the habit of withdrawing money "just in case" to more flexible personal finance management.
BC: How do you see Mastercard's future development strategy in Moldova?
Irina Untila: Our mission is to ad - vance Moldova's digital economy. This is a complex task that requires synergy among all participants in the financial market.
We continue to work daily to ensure that users can conveniently and se - curely pay for goods and services anywhere, anytime. We consistently prioritize the development of digi - tal services and smart city projects, aimed at enabling cashless payments across public transport and urban in - frastructure.
Another key focus is the development of cashless services for small and me - dium-sized businesses, rightly consi - dered the engine of the economy. To - gether with our partners, we provide tailored card products, flexible pay - ment solutions, and access to special offers that support business growth.
BC: Speaking of your team, what do you value most in your interactions? What do you think motivates the team the most?
Irina Untila: I deeply value my team ā they are seasoned experts united by shared values. Together, we strive to create innovations that deliver real impact to our clients, partners, and the market. We act boldly, take res - ponsibility, and never wait for the perfect moment ā instead, we seize every opportunity, fostering an en - vironment where everyone beco - mes a co-Ńreator of our shared success. I believe that the role of a leader is to create an environment where everyone can unlock their full potential.
Mastercard is not only about technology and innovation, but above all about the people who shape the company's culture and drive the payment market forward. We conducted a quick Q&A with the team members to find out what values they consider to be most important, what success means to them, and how they see Mastercard's role in the development of Moldova's digital ecosystem.
Natalia STEPANOVA, Account Manager, Mastercard Moldova
BC: In your experience, what does effective teamwork and collaboration look like at Mastercard?
For me, effective teamwork is like a well-oiled machine that helps us achieve our goals. Trust within the team is primary: it allows everyone to freely share ideas and constructive feedback. The diversity of our skills and experience helps us tackle a wide range of tasks and find innovative solutions together. After all, Mastercard is not just a job for us, it's a lifestyle.
Daniela DONČU, Marketing Manager, Mastercard Moldova
BC: What does success look like for you personally at Mastercard?
Success at Mastercard means contributing to a mission with real impact, providing people with tools to be more digital, more confident, and able to pay simply and securely. At the same time, we aim to create positive memories for customers through the offers and priceless experiences we create for them. On a personal level, success is about constant growth: embracing challenges, learning from talented colleagues, and feeling proud to be part of a company shaping the future of payments locally and globally.
Valeriu STRATAN, Director of Digital Partnerships, Mastercard Moldova
BC: As a leader in innovative payments, how do you personally define āinnovationā in your current role at Mastercard?
For me, innovation means the ability to synergize. At Mastercard, we create it through partnerships ā connecting banks, fintechs, telcos, startups, merchants, educational institutions and governments to find solutions that deliver a real impact, such as expanding financial inclusion. I believe that innovation thrives where scaling of proven ideas is combined with the search for technologies that shape the future ā it is this balance that makes progress sustainable and forward-looking.
Mihail PETRACHE, Senior Analyst, Account Management, Mastercard Moldova
BC: Which of Mastercard's core values resonate with you the most and why?
Personally, I believe that caring for customers is the fundamental value closest to my heart. When we put people at the center of what we do, we can build solutions that simplify their lives, provide security and bring comfort. Caring for customers means being attentive to their needs, responsibly implementing innovations, and understanding the value of every interaction with them. Beyond any strategy, it is a value that speaks of respect, trust, and a sincere desire to do good.
Dumitru CIUCIUM, Consultant, Advisors & Consulting Services, Mastercard Moldova
BC: What aspects of working at Mastercard do you value the most?
What I value most is the combination of professional growth and meaningful impact. Mastercard invests in its people by offering opportunities to develop skills, take on challenging projects, and learn from experts in various markets. It is particularly inspiring to see the results of our work ā supporting small and medium businesses, expanding financial inclusion and introducing innovative payment solutions. The culture of collaboration, learning, and purpose makes Mastercard a truly inspiring place to work.
