Going forward, CB PRIVATBANK PJSC, one of the largest systemically important banks, will embark on servicing payment cards operated by the National System of Mass Electronic Payments (hereinafter – the NSMEP) on the basis of open international standards, in parallel with Oschadbank JSC, Ukrgasbank JSB, CB Khreschatyk PJSC, Bank Mikhaylivskiy PJSC, Ukreximbank  PJSC, Fidobank PJSC.

"The National Bank of Ukraine as the NSMEP payment institution uses its best endeavours to build a state-of-the-art payment card system that meets the market requirements and adopts advanced and sophisticated information technology and payment instruments. Servicing NSMEP payment cards by systemically important banks with an extensive network of branches based on open international standards represents a positive signal for the market, indicating that the national payment system is capable of offering competitive services and attractive products," noted Deputy Governor of the National Bank of Ukraine Yakiv Smolii.

CB PRIVATBANK PJSC became the NSMEP participant in April 2014. Joining the NSMEP by systemically important banks, which allows them to service NSMEP payment cards based on open international standards points, indicates that the National Bank of Ukraine has  succeeded in drawing on best international practices related to the development of national payment systems and taken into account the proposals put forward by market participants in the process aiming to overhaul the payment system to advance it, which was undertaken in 2013 – 2014.