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NBU Approves Terms and Conditions of Operation in Ukraine of International Payment System TRANSFAST

NBU Approves Terms and Conditions of Operation in Ukraine of International Payment System TRANSFAST

The National Bank of Ukraine (NBU) has resolved to approve the terms and conditions of operation in Ukraine of the international payment system TRANSFAST. The respective decision was approved by the NBU’s Committee on Banking Supervision and Regulation and Oversight of Payment Systems on 25 November 2019.

TRANSFAST is a global fund transfer system that provides fund transfer services in more than 125 countries (in Asia, Europe, Africa, the United States, Canada, India, and Australia) and has over 300 members worldwide.

The arrival of the new payment system in the Ukrainian market confirms Ukraine’s attractiveness and prospects for investors and gives a new impetus to improve the quality of financial services and develop the market for payment systems in Ukraine.

TRANSFAST has become the eighth international payment system to provide fund transfer services in Ukraine under a nonresident payment systems operator.

To view the list of all payment systems recorded in the Register of Payment Systems, Settlement Systems, Participants thereof, and Payment Infrastructure Service Providers, follow the link.

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