This need arises from the implementation of the Law of Ukraine "On Amendments to Certain Legislative Acts of Ukraine Regarding the Improvement of the Functions of the National Bank of Ukraine in State Regulation of Financial Services Markets," which will take effect on November 8, 2024. This law introduces amendments to the Law of Ukraine "On Payment Services," allowing for the possibility of instant credit transfers within Ukraine.
In this regard, the National Bank proposes, in particular:
- to establish the procedure for the admission and exclusion of participants in the instant credit transfer carried out through the NBU electronic payment system (instant transfer of SEP);
- to regulate the specifics of executing instant transfers via SEP;
- to clarify the technology for performing mandatory, indisputable, and contractual deductions from the correspondent bank account using SEP;
- to determine the specifics of executing instant transfers via SEP by non-bank payment service providers through a bank that participates in the instant transfer of SEP.