The National Bank of Ukraine is planning revolutionary changes in the regulation of the Ukrainian payment market, including the introduction of new payment services, expanding the circle of their suppliers and enhancing the protection of user rights.
This was reported by the European Business Association.
A new law on payment services in Ukraine is expected to be adopted in the near future. It will be similar to the European PSD2 directive on Open Banking.
Among the innovations – the introduction of a number of new payment services, including the transfer of funds from a payment account through a loan, the initiation of a payment and the provision of consolidated information on a payment account.
Payment services (in addition to banks) can be provided by payment institutions, electronic money institutions, postal operators, and government institutions.
The payment services users’ rights protection will be enhanced by establishing clear requirements for suppliers and imposing limits on liability for unauthorized operations.
According to the Association, over the next few months, the National Bank is planning a series of meetings for market participants and stakeholders to work together on the bill.
As The Journalist reported, Ukraine will introduce the International Bank Account Number IBAN.
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