State sector of Ukrainian economy will switch to non-cash payments

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Open source/National Bank of Ukraine

The National Bank of Ukraine and the Ministry of Digital Transformation have signed a memorandum of cooperation in the field of digitalization, which provides for the transfer of two departments to non-cash payments in all areas of the public sector of the economy.

Thus, the Ministry of Finance and the National Bank are planning to launch a financial literacy training course for Ukrainians on the Diya.Tsifrova osvita portal.

The course will provide information about payment cards, electronic payment methods, credit limits and the safety of payments via Internet. Departments also plan to develop an electronic residency tool.

“The memorandum will help, among other things, to improve the system of verification and identification of citizens and businesses, as well as simplify the available mechanisms and create more of modern ones. In particular, this applies to e-Residency. This tool will allow foreigners to officially run business in Ukraine remotely,” Deputy Prime Minister and Minister of Digital Transformation Mykhailo Fedoriv said.

The Ministry of Finance and the National Bank will also develop tools to expand the practice of remote signing of agreements in the financial sector.

The parties signed the memo in online format affixed with electronic digital signatures.

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