National Bank of Ukraine is interested in further development of high-tech financial market in Ukraine as it will positively influence the implementation of Cashless Economy project. That was told by My Serhii Shatskyi, Director of Payment Systems and Innovative Development Department, last Friday during round table of central bank and Maybutne magazine.
“NBU is committed to assist the Ukrainian payment market to become mainly cashless; for that end, latest financial technology mat be useful. Therefore, we try to keep open the dialogue with market, - mentioned Director of Payment Systems and Innovative Development Department of the NBU, Mr Serhii Shatskyi. - In return, we also look into solutions, which could facilitate payments both for citizens and SME. Among such are cloud technologies, mobile payments, QR-codes to pay for goods and services, Blockchain based solutions, which are set to prove their viability in payments area.”
In addition, Mr Serhii Shatskyi noted that understanding who will be the client for the future product is an important criterion for successful implementation of financial start-ups. At the same time, we need to upscale those technological solutions, which will become popular in the market and be in demand. Today, we need to pay attention to low-cost technological solutions for micropayments.
In the meantime, the NBU representative stressed that NBU also supports prompt adoption of Draft Law No. 4117 On Amendments to Certain Legal Acts of Ukraine on Liberalization of Cash Operations by the Verkhovna Rada of Ukraine. The objective of the mentioned draft law is to ensure considerable reduction of costs incurred to acquire and service payment transaction registers (PTR) that allows to carry out cost-effective fiscalization of all available transactions related to receipt of cash or its analogues to pay for goods and services.
“Implementations of principles of this draft law will enable entrepreneurs to cut the indirect costs and simplify the receipt of payments by using both fiscal terminals of such devices as tablets, smartphones, laptops and computers,” - mentioned Mr Serhii Shatskyi.
Apart from regulatory policy and business environment to facilitate the development of high-tech financial segment, participants discussed also the role of technology and innovation in development of financial industry, its prospects and benefits for a client. Participants of the discussion additionally noted that implementation of the NBU pilot project on remote identification of citizens and legal entities by using BankID is the decision in this direction.
International experts, representatives of specialized financial associations, consulting companies, lawyers, representatives of domestic area of financial technologies and innovation companies of classic financial industry took part in discussion.