Ukraine: International Conference On "Payment Forum"

International Conference On "Payment Forum" Held By the National Bank of Ukraine Proves Successful

Kyiv, June 4 - the National Bank of Ukraine held an international conference on "Payment forum" (hereinafter referred to as the Conference), which brought together representatives from foreign central banks and participants in the payments industry of Ukraine and other countries.

"The main aim of the Conference was to provide a forum for exchanging ideas and sharing experience and best practices on the regulation of payment infrastructure with representatives from the central banks of other countries, and seek new ways to simplify and increase the number of cashless payment transactions in our country," said Deputy Governor of the National Bank of Ukraine Valerii Prokhorenko at the Conference.

The Conference participants discussed a number of topical issues related to the main innovations in the Ukrainian legislation regulating the operation of payment systems, strategies and priorities for the payments market development, including national card payment systems; the current state and development trends in the funds transfer systems market; usage of sophisticated technologies and new payment instruments; fight against cybercrime and other topical issues.

Ms. Nataliia Syniavska, Director of General Department of Information Technologies and Payment Systems emphasized that the constructive discussions, which had taken place during the Conference, had demonstrated that the market participants took a keen interest in this event. She also noted that the experts from foreign central banks who had delivered speeches at the Conference acknowledged the fact "Ukraine's payments market, like the global payments' market, is fast-moving".

The foreign guests shared their experience and best practices in the areas of payment systems and funds transfer systems, presented innovations introduced in their countries and informed their Ukrainian colleagues about the oversight of payment systems carried out by their central banks.

The experts from the National Bank of Ukraine delivered speeches on the following topics: "New legislative initiatives in the area of payment systems", "Development strategy for the national payment card system of Ukraine", "Technology for collection and transmission of data from the RPT to the State Tax Service of Ukraine: creation, introduction and development strategy", "New NSMEP products", "Legal framework for e-money transactions in Ukraine", "Licensing of non-banking institutions engaged in carrying out funds transfers", "Legal framework for carrying out funds transfers by non-banking institutions in Ukraine", "The current state of the market of funds transfer systems in Ukraine and its development trends".

"I hope that "Payment forum" will become an annual conference and in the wake of economic globalization provide us with the opportunity to coordinate our efforts to create efficient and secure payment systems allowing both private persons and businesses to carry out cashless payments" Mr. Valerii Prokhorenko  concluded

ENDS

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