payment systems established by residents and nonresidents,
participants of payment systems,
payment service providers.
Any legal entity can refer to the NBU to register a payment system and approve its operating rules in Ukraine.
Only a bank or a nonbank institution holding the license for conducting money transfers in hryvnia without opening an account can become a participant of the payment system.
Payment service providers form a special category of payment market participants the render processing, clearing, transact other operations, information or technical functions for fund transfers. Any legal entity can acquire the status of a payment service provider.
Resident Payment Pystems
Money can be transferred to Ukraine by national and international payment systems.
Payment system participants directly provide fund transfers to customers. In Ukraine, nonbank institutions can also become payment system participants, upon receiving a license form the NBU for conducting money transfers without opening an account.
The status of a payment service provider is required in order to provide clearing, processing and other services in the payment system or perform operational, information, and other technical functions for fund transfers.