NABU has launched an interbank service for P2P transfers using phone numbers.

This was reported by the press service of the Independent Association of Banks of Ukraine (NABU) via Telegram

What are aliases?

Aliases are unique identifiers (such as a phone number) that enable transfers between banks without the need to enter an IBAN.

What are the benefits?

1. Unified network — all participating banks will operate under a single standard, making transfers transparent and convenient.
2. Accessibility: just provide a phone number, and the funds will be credited to the correct account.
3. Speed: instant transfers available 24/7.
4. Security: transactions comply with international protection standards and minimize the risk of errors when entering details.
5. European experience: similar solutions are already successfully implemented in EU countries.
6. Global prospects — the solution has been developed with the best global practices in mind and can be adapted for cross-border payments in the future.