The National Bank of Ukraine has agreed the rules for the interstate payment system PAYPONG and issued certificate No. 28 of 9 March 2016 to the payment institution for this system, European Payment System Ltd. (Kyiv).
Information about PAYPONG is included in the register of payment systems, settlement systems, participants in, and service operators of the payment infrastructure.
At present, the PAYPONG payment system is the 11th interstate payment system in the Ukrainian market, which was founded by a non-bank institution.
According to its rules, participants in this payment system may be banks of Ukraine and non-bank financial institutions that have a license for money transfers without opening accounts and provide services on money transfers with the help of the PAYPONG payment system to its users. BANK NARODNYI CAPITAL PJSC (NC BANK JSC) is the settlement bank for the payment system.
The PAYPONG payment system was created for cash and non-cash transfers in domestic currency from natural persons in favor of natural persons and legal entities within Ukraine.