EBA Electronic Payments Committee meets with World Bank and IFC Experts

17/ 06/ 2026

On Thursday, 12 June, the Electronic Payments Committee of the European Business Association held a meeting with representatives of the World Bank mission on financial inclusion and experts from the IFC’s Ukraine Financial Inclusion Programme (UFIP II). Representing the Association were Committee Chair and Deputy Chairman of the Management Board of JSC Oschadbank responsible for Retail Business, Anton Tiutiun, and the Committee’s Legal Adviser, Vadym Romaniuk, Head of Banking and Finance Law Practice at PwC Legal Ukraine, alongside experts from member companies of the Committee. Participants discussed overlay services for the System of Electronic Payments (SEP) and market participants’ interest in their further development, measures to combat fraud in instant payment systems, and the factors required to increase the adoption of electronic payments among the population. Representatives of the World Bank shared insights from the recently published Financial Inclusion Landscape Assessment Report for Ukraine, “Assessing Challenges and Building Opportunities for Resilience”. The Committee’s experts will review the document in detail and prepare their comments and recommendations. Participants agreed on the importance of developing advanced payment infrastructure, strengthening cooperation among market participants, and enhancing financial literacy as key components of financial inclusion. Particular emphasis was placed on the strategic importance of Ukraine’s accession to the Single Euro Payments Area (SEPA). Considerable attention was also devoted to the harmonisation of legislation governing the regulation of interchange fees. Earlier, the EBA submitted for consideration by the World Bank and IFC a Deloitte Ukraine report (2025) examining the potential impact of such harmonisation on the electronic payments market and the development of the cashless economy. The study’s key conclusion is that a five-year transitional period would be the most appropriate approach for the gradual implementation of the relevant EU Regulation, helping to avoid disruptive consequences, including a slowdown in the development of the cashless economy and the expansion of the shadow economy.

Participants discussed overlay services for the System of Electronic Payments (SEP) and market participants’ interest in their further development, measures to combat fraud in instant payment systems, and the factors required to increase the adoption of electronic payments among the population.

Representatives of the World Bank shared insights from the recently published Financial Inclusion Landscape Assessment Report for Ukraine, “Assessing Challenges and Building Opportunities for Resilience”. The Committee’s experts will review the document in detail and prepare their comments and recommendations.

Participants agreed on the importance of developing advanced payment infrastructure, strengthening cooperation among market participants, and enhancing financial literacy as key components of financial inclusion. Particular emphasis was placed on the strategic importance of Ukraine’s accession to the Single Euro Payments Area (SEPA).

Considerable attention was also devoted to the harmonisation of legislation governing the regulation of interchange fees. Earlier, the EBA submitted for consideration by the World Bank and IFC a Deloitte Ukraine report (2025) examining the potential impact of such harmonisation on the electronic payments market and the development of the cashless economy. The study’s key conclusion is that a five-year transitional period would be the most appropriate approach for the gradual implementation of the relevant EU Regulation, helping to avoid disruptive consequences, including a slowdown in the development of the cashless economy and the expansion of the shadow economy.