The National Bank emphasizes the need to preserve the development of non-cash payments in Ukraine and protect the interests of its citizens. This was emphasized during a joint press briefing with payment market participants, the regulator said.
Kiev. Ukraine. Ukraine Gate – April 05, 2021 – Ukraine News
In particular, Deputy Chairman of the NBU Oleksiy SHABAN noted: “The task of the National Bank is to promote the harmonious development of the payment market and ensure that Ukrainians can pay for goods and services in the most convenient way for them – in cash or non-cash. We are concerned about the heated debate over the need to regulate interbank commissions. In our opinion, the adoption of an unbalanced decision on this issue may have negative consequences for the development of the payment market and non-cash payments in general.”
Oleksiy Shaban called on all stakeholders to find a compromise and reach a solution aimed at preserving financial stability and protecting the interests of Ukrainians.
“We are ready to support a balanced compromise. The National Bank also agrees to support the business proposal to exclude from the law the norm that obliges merchants to accept payment cards for payment. We are convinced that at this stage of development it is no longer an effective rule of law, but a requirement of time and customers who understand all the benefits and conveniences of non-cash payments, “he said.
In addition, the National Bank should be given the right to receive information from the payment systems on the size of the interchange fee and to publish this information. This will add transparency to the payment market and predictability to the actions of its participants.
At the same time, the NBU’s opinion remains unchanged: regulating what should be regulated by market methods is very dangerous, and maintaining exclusively market-based approaches to financial market regulation is extremely important.
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Source: Ukrgate