Electronic Payments

24/ 03/ 2014

Following the lobbying efforts of the Electronics Payments Committee of the European Business Association (hereinafter – the EBA), on 12 February 2014 the Cabinet of Ministers of Ukraine approved the Instruction “On Holding an Experiment for Transfer of Lists on Payment of Pensions to Current Accounts in Authorised Banks in Electronic Form Using Systems of Information Exchange of the National Bank of Ukraine” No73-p (hereinafter – the Instruction No73-p). This is a substantial step towards data sharing in electronic form between the Pension Fund of Ukraine (hereinafter – Pension Fund) and commercial banks in the Ukrainian territory.

Background:The initiative to arrange data sharing between the Pension Fund and commercial banks in electronic form was raised by the EBA Electronic Payments Committee in May 2012. Since then the EBA referred to the Pension Fund and the Ministry of Social Policy of Ukraine (hereinafter – Ministry) with letters and suggestions on this issue.

In October the EBA Electronic Payments Committee proposed to the Ministry that it organise a Working Group for the realisation of data sharing in electronic form. As a result of Working Group’s activity, a pilot project on data sharing in electronic form will be launched. The Instruction No73-p envisages that such a project will be carried out in 2014 in Kyiv and Vinnytsya regions. It is also foreseen by Instruction No.73-p that afterwards in 2015 there should be a decision taken on the relevance of such data sharing in general.

We would like to thank all EBA members who supported and contributed to our efforts focused on solving this issue. At the same time the EBA will continue our lobbying activities aimed at creating a business friendly environment in Ukraine.

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