NBU simplifies access for the Paypal to Ukraine market

Simplified procedure for acquiring financial institutions license to transfer money in the national currency and authorization procedure for international settlement owners of registered foreigners by reducing the list of documents that should be provided by those parties to the main regulator of the banking system and the procedure for their consideration.

According to the legal act, foreigners must submit the name of the payment system, the service that it represents, while predostavlennya corresponding service or promotion (in the documents for transfer, payment documents, product developer, etc) and advance to inform about the use of National TM Bank. This set of measures will help to protect pravaspozhyvachiv financial services.

Furthermore, according to the Resolution number 481,   the maximum amount NBU electronic money payments increased in a calendar year (from 35 000 to 62 000 USD.), And the amount of electronic currency, which are electronic devices owned by the user that will enable make use of electronic money more comfortable and expand the opportunities for payments.

 

These regulations come into force on the day following the day of publication