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Mastercard to reduce interchange rates in Ukraine

26/ 11/ 2021
  Kyiv, November 26, 2021 –– Effective today Mastercard enacts reduced interbank rates (interchange) in Ukraine, following the resolution of the Antimonopoly Committee of Ukraine (AMCU). New interchange rates are applicable to non-cash transactions with Mastercard consumer cards in Ukraine, both in physical retail and e-commerce. The approval to enact reduced interchange rates [interchange fee is paid by the acquirer to an issuer when a cashless transaction is made in trade and service network] was granted to Mastercard by the Antimonopoly Committee of Ukraine on November 11, 2021. According to the AMCU resolution, the first stage of interchange rates reduction to the level at most 1.20% is to take place the next business day after the 14 (fourteen) calendar days following the date of the receipt of approval of the Antimonopoly Committee of Ukraine, i. e. on November 26, 2021. Further reduction of cap interchange rates will take place in July 2022 and 2023 respectively, in accordance with the following schedule approved by the AMCU:   from 26.11.2021 - at most 1.20%; from 01.07.2022 - at most 1.00%; from 01.07.2023 - at most 0.90%. “The preservation of the market driven approach to defining interchange rates in Ukraine is essential for further development of the payments market and a cashless economy in Ukraine. We welcome the Antimonopoly Committee of Ukraine’s decision and its approval of the proposed approach to a gradual decrease of interchange rates. Starting today, the first interchange rates reduction will be followed by further gradual decreases in 2022-2023. We expect this approach to stimulate further acceptance and cashless payments”, – Inga Andreieva, Mastercard General Manager in Ukraine and Moldova noted. * * * About Mastercard (NYSE: MA) Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all. www.mastercard.com

Kyiv, November 26, 2021 –– Effective today Mastercard enacts reduced interbank rates (interchange) in Ukraine, following the resolution of the Antimonopoly Committee of Ukraine (AMCU). New interchange rates are applicable to non-cash transactions with Mastercard consumer cards in Ukraine, both in physical retail and e-commerce.

The approval to enact reduced interchange rates [interchange fee is paid by the acquirer to an issuer when a cashless transaction is made in trade and service network] was granted to Mastercard by the Antimonopoly Committee of Ukraine on November 11, 2021. According to the AMCU resolution, the first stage of interchange rates reduction to the level at most 1.20% is to take place the next business day after the 14 (fourteen) calendar days following the date of the receipt of approval of the Antimonopoly Committee of Ukraine, i. e. on November 26, 2021. Further reduction of cap interchange rates will take place in July 2022 and 2023 respectively, in accordance with the following schedule approved by the AMCU:  

  • from 26.11.2021 – at most 1.20%;
  • from 01.07.2022 – at most 1.00%;
  • from 01.07.2023 – at most 0.90%.

“The preservation of the market driven approach to defining interchange rates in Ukraine is essential for further development of the payments market and a cashless economy in Ukraine. We welcome the Antimonopoly Committee of Ukraine’s decision and its approval of the proposed approach to a gradual decrease of interchange rates. Starting today, the first interchange rates reduction will be followed by further gradual decreases in 2022-2023. We expect this approach to stimulate further acceptance and cashless payments”, – Inga Andreieva, Mastercard General Manager in Ukraine and Moldova noted.

* * *

About Mastercard (NYSE: MA)

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

www.mastercard.com

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