National Bank to stimulate innovation in the market of payment systems

Source : 112 Ukraine

National Bank aims to stimulate innovations and to maintain competition in the market of payment systems in the interest of the users of payment systems, individuals, legal entities, and the state as a whole - Deputy Director of the Department Payment Systems of National Bank of Ukraine Olena Makhaeva
17:48, 16 September 2015

“Today Ukraine offers services of 54 payment systems: two of them - of the central bank, the other are established by banking and non-banking organizations, residents and non-residents of Ukraine. Payment systems in Ukraine differ significantly by the organizational structure, type of operations performed, the process for initiation of translation market share. National Bank of Ukraine, as a regulator of this complex and dynamic market, seeks to establish such rules of the game, which will stimulate innovation, support competition in the interests of the users of payment systems, individuals and legal entities and the state as a whole,” stated Olena Makhaeva.

112 Agency

She noted that one of the activities of the NBU in oversight payment systems is the introduction of the international standards recommended by the Bank for International Settlements, and the transition to the evaluation of payment systems on the basis of risk assessment. "The purpose of this activity is to increase the reliability and efficiency of payment systems, the reduction of systemic risk,"  summarized Mahaeva.

Yesterday, 15 September, in Yaremche, Ivano-Frankivsk region the International Conference "Security. Technology. Innovation" was launched. The event brought together 40 representatives of banks, the National Bank of Ukraine, the Independent Association of Ukrainian banks, as well as representatives of major companies - manufacturers of security systems for banks.

At the conference, participants shared their experiences and discussed a number of issues. In particular, they talked about such an important market infrastructure as payment systems.

Conference "Security. Technology. Innovation" will last till September, 18. Participants will discuss a number of issues related to innovative technologies for information security of banks.

Related: "Security. Technology. Innovation" conference took place Sept.15

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