NBU Reviews List Of Systemically And Socially Important Payment Systems In Ukraine

The National Bank of Ukraine (NBU) reviewed the list of systemically important, socially significant and important payment systems in Ukraine.

This is stated in the message of the NBU, Ukrainian News Agency reports.

The only systemically important payment system in Ukraine, as in previous years, was the System of Electronic Payments (SEP) of the National Bank.

Five payment systems are classified as important.

Namely:

▪️ MasterCard, MasterCard International Incorporated, USA;

▪️ Visa, Visa International Service Association, USA;

▪️ NovaPay, NovaPay LLC, Ukraine;

▪️ Finansovyi Svit, Ukrainska Platizhna Systema LLC, Ukraine;

▪️ Poshtovyi Perekaz (Postal transfer), Ukrposhta JSC, Ukraine.

Three important operators of payment infrastructure services were also identified: Ukrainian Processing Center PrJSC, AC DC PROCESSING LLC and TAS LINK LLC.

In addition, important participants of payment systems were identified for the first time this year:

▪️ JSC CB PrivatBank (SEP NBU, MasterCard, Visa);

▪️ FC CONTRACT HOUSE LLC (Finansovyi Svit);

▪️ UNIVERSAL PAYMENT SOLUTIONS LLC (Finansovyi Svit).

The NBU sets stricter requirements for important objects of the payment infrastructure, in particular, regarding business continuity and cyber resilience.

As Ukrainian News Agency earlier reported, the National Bank determines the importance of payment systems and operators of payment infrastructure services annually based on the results of their activities for the previous year.

The criteria for determining the importance of payment systems are the volume of operations and types of services provided by payment systems.

The criteria for determining the importance of operators of payment infrastructure services are the volumes of operations processed by them in payment systems.

On July 21, the NBU adjusted the official hryvnia exchange rate by 25% to 36.5686 UAH/USD.

From August 6, 2022, the National Bank canceled the restriction, according to which banks and non-banking institutions had to buy cash currency from the population at a rate no lower than the official one.

The National Bank allowed banks to sell more currency to the public.

Thus, from September 6, the amount of cash currency that the bank can offer to the population will include the entire amount of non-cash currency purchased by it from April 13, 2022, instead of half of it.