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NBU determines list of important objects of payment infrastructure in Ukraine

KYIV. March 15 (Interfax-Ukraine) – The only systemically important payment system in Ukraine, as in previous years, is the National Bank’s electronic payment system, as evidenced by the results of monitoring the activities of payment systems for 2022, according to the NBU website.

In addition, five payment systems are classified as important, namely MasterCard (MasterCard International Incorporated, the USA), Visa (Visa International Service Association, the USA), NovaPay (Ukraine), Financial World (Ukrainian Payment System, Ukraine), and Postal Transfer (Ukrposhta, Ukraine).

In addition, based on the results of activities in 2022, important participants in payment systems were identified for the first time PrivatBank, the NBU electronic payment system, MasterCard, Visa, Kontraktovy Dim and Financial World.

Also, based on the monitoring results for 2022, three important payment infrastructure service providers were identified, namely PrJSC Ukrainian Processing Center, AC DC PROCESSING and TAS LINK.

The NBU notes that the distribution of payment infrastructure facilities by categories of importance is carried out by the regulator in accordance with international practice to improve their reliability and efficiency, as well as bring their activities in line with international oversight standards.

Thus, the National Bank establishes enhanced requirements for payment infrastructure objects classified as important in terms of management and organization of activities, access to and participation in the payment system, risk management systems, finality of settlements, ensuring cyber stability and business continuity management.