The National Bank of Ukraine ensured comfort and progress of the domestic legislation for online payment systems

The National Bank of Ukraine ensured comfort and progress of the domestic legislation for online payment systems (such as PayPal, ApplePay, GoogleWallet and similar systems) to operate in Ukraine.

As a result of the Chamber advocacy activities and provided proposals as well as constructive dialogue and participation of the Chamber Members in the respective NBU Working Group, the NBU has legally ensured opportunity for Ukrainian citizens to receive online cross-border payments.

The Chamber will continue cooperation with the NBU to implement further regulatory changes needed to broader functionality of the online payment systems for individuals and entrepreneurs in Ukraine and opportunities for their external business relations, export of Ukrainian goods and services, integrations to the international market.

The legal changes adopted by the NBU emphasize strong readiness of Ukrainian authorities to expand its scope and welcome in a more inclusive manner the international companies to enter Ukraine’s market.

The Chamber appreciates NBU and other Ukrainian authorities’ understanding and progressive approach towards transformation of Ukrainian economy.