From December 1, 2024, the System of Electronic Transfers-4.1 with instant credit transfer functionality has been launched.
This is stated in a message of the National Bank, Ukrainian News Agency reports.
The NBU noted that the transition to the new version of the software was successful and now the functionality of instant transfers of the SEP is available to everyone connected to the system: banks, non-bank payment service providers, and the State Treasury Service of Ukraine.
"An instant transfer of the SEP is a payment transaction, thanks to which funds are instantly credited to the recipient's account through the SEP. That is, payment service providers will perform an instant transfer of funds from the payer's account to the recipient's account and are obliged to immediately inform them about the results of the payment transaction," the message says.
Such a payment transaction can be initiated by both an individual and a legal entity.
The maximum execution time of an instant SEP transfer is measured in seconds (no more than 10 seconds), and the maximum amount of one payment transaction is set at UAH 100,000.
Advantages of instant SEP transfers for citizens:
- fast crediting of funds to the recipient in real time, which is important, in particular, when paying for goods and services;
- convenient initiation of payments (through payment applications of payment service providers) and transfer of details between users (using QR codes or Deeplink).
Advantages of instant SEP transfers for businesses:
- reduction of operating costs (taking into account the SEP tariff policy) and effective liquidity management;
- improvement of service for customers due to the 24-hour availability of payments via SEP.
Advantages of instant SEP transfers for the Ukrainian economy as a whole:
- acceleration of the digitalization of financial services and the development of non-cash payments;
- increased competition between payment systems and services, which will stimulate increased transparency and reduced transaction costs;
- the possibility of future integration with international instant transfer systems, in particular the EU.
10 banks have already directly connected to the functionality of the instant SEP transfer.
All participants should gradually join it.
As the Ukrainian News agency earlier reported, on April 1, 2023, a new generation of the System of Electronic Payments of the National Bank went into operation.
The NBU System of Electronic Payments is a state banking payment system that ensures interbank settlements through accounts opened with the National Bank.
The System of Electronic Payments belongs to the real-time gross settlement system (according to the international classification - RTGS).
The NBU is the operator and settlement bank of this system.
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