NBU prepares new requirements for issuing and acquiring payments: what will change for people
24 March 12:35
The National Bank of Ukraine has initiated a public discussion of changes to the procedure for issuing and acquiring payment instruments, including payment cards, Komersant ukrainskyi reports. According to the NBU, the proposed changes are aimed at increasing the transparency of payment transactions and strengthening the protection of the rights of payment service users.
Planned changes
More information during online payments
Before making a payment online, you will be required to see the full name of the acquiring company through which the transaction is made. This will help you avoid payments through dubious services and reduce the risk of fraud.
More detailed bank statements
Due to the new requirements for the transfer of information between the acquirer and the issuer, users will receive more informative statements from their current accounts – with clear identification of the recipients of funds under the EDRPOU for business.
Enhanced protection for online transactions
The new rules oblige banks and payment systems to exchange full information on payment instruments, which will increase the security and speed of detecting potentially fraudulent transactions.
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The amendments also provide for clarification of the procedure for generating payment instructions, which should make the payment process more transparent and understandable for users.
How to participate in the discussion
Payment service providers that issue and/or acquiring payment instruments will have until October 1, 2025 to bring their activities in line with the new requirements of the regulator.
The amendments are contained in the draft resolution of the Board of the National Bank of Ukraine “On Approval of Amendments to the Regulation on the Procedure for Issuing and Acquiring Payment Instruments”, which is submitted for public discussion.
The materials can be found here.
Comments and suggestions to the draft resolution are accepted in the prescribed form until April 4, 2025 inclusive.
