The National Bank of Ukraine welcomes parliament’s adoption of Draft Law No.4121  On Amendments to Certain Legal Acts of Ukraine on the Launch of Automated Ticket Vending System on Public Transport in second reading and as a whole. A total of 265 MPs voted in favor of the bill.

The NBU sees the passage of this bill as a crucial step towards cashless-economy as fare payments on public transport account for the bulk of mass cash payments. The launch of an automated ticket vending system on public transport will make fare payments easy and convenient, as well as enable the use of high-tech payment instruments. The launch of an e-ticket on public transport is part of the NBU’s  Cashless Economy project, as provided for by the Comprehensive Program of Ukraine’s Financial Sector Development Until 2020.

Draft Law No. 4121 provides for the following:

• the launch of an automated ticket vending system for accepting fare payments for transportation services;
• the transparency of fare payments;
• efficient planning of public transport routes and schedules;
• higher profitability of transportation companies and the overhaul of the fleet of public transport vehicles; and
• enhanced traffic safety as drivers will be able to better focus their attention on the road instead of being distracted by having to sell tickets.