NBU intends to improve regulation of national payments market

"Within the next few months, the National Bank intends to hold a series of meetings for market participants and stakeholders to consider the conceptual vision of the future regulation of the payments market. Following the meetings with all stakeholders, a joint work on proposals on the norms of future legislative regulation will be carried out,” reads the report.

The central bank intends to bring the national law on payments market in line with the requirements of the European Union Association Agreement. In particular, this concerns the launch of the process of implementing the rules of the European directive PSD2 (regarding Open Banking) in the national legislation, which will increase competition in the financial market and will promote the innovative development of the domestic payments market.

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