Since December, an updated version of the electronic payment system (EPS) of the National Bank of Ukraine, which provides the possibility of instant credit transfers, has been operating in Ukraine. Currently, this feature is available in ten banks, informs National Bank.
The system update was made possible thanks to amendments to the Law of Ukraine “On Payment Services”, which entered into force on November 8. The National Bank notes that the transition to the new software was successful, and now instant transfers are available to all participants connected to the system, including banks, non-bank payment service providers and the State Treasury Service.
Instant transfers allow funds to be credited to the recipient’s account in real time. Payment operations are performed in less than 10 seconds, and the maximum amount of one transfer is 100 thousand hryvnias. After the transfer is completed, the system immediately notifies the participants of the transaction about its success.
For citizens, such transfers provide convenience and speed when paying for goods and services, as well as the ability to easily initiate payments through payment applications or transfer details using QR codes or Deeplink. For businesses, this innovation will help reduce operational costs, improve liquidity management and provide customers with 24/7 access to payments.
The National Bank of Ukraine emphasizes that the new version of the SEP opens up new opportunities for users, significantly increasing the speed and efficiency of financial transactions.
