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Economy 2020-05-15T06:47:09+03:00
Ukrainian news
NBU: PayPal System Not Willing To Start Operation In Ukraine Within 12 Months

NBU: PayPal System Not Willing To Start Operation In Ukraine Within 12 Months

Ukraine, NBU, PayPal, internet settlements system, operation

The National Bank of Ukraine says the internet settlements system PayPal does not want to start its operation in Ukraine in the next 12 months.

Serhii Shatskyi, director of department for payment systems and innovative development at the National Bank, wrote this on his page in Facebook, Ukrainian News Agency reports.

He said the National Bank of Ukraine had applied to the World Bank for help in resolving the issue of start of the operation of PayPal in Ukraine.

"The answer we have received is disappointing a little bit," he wrote.

He voiced hope that PayPal would start operation in Ukraine in the near future due to action of the business community.

He notes that the National Bank is initiating amendments to the law on payment systems to push the country closer to Europe standards.

As Ukrainian News Agency earlier reported, in January the National Bank of Ukraine and the Ministry of Economic Development and Trade agreed to create conditions for the internet settlements system PayPal to start working in Ukraine.

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