Int'l payment systems MTBMoney and R360 entered Ukrainian market in 2022 - NBU

MOSCOW. April 7 (Interfax) - International payment systems MTBMoney, operated by PJSC MTB Bank, and R360, operated by UK company Remittance360 Ltd., entered the Ukrainian market in 2022, Ukrainian media said, citing a report on financial market infrastructure oversight by the National Bank of Ukraine, or NBU.

According to the report, 54 payment systems were registered in Ukraine by the end of 2022. They included two state-owned system, SEP and Prostir; 36 set up by residents, of which 15 by banks and 21 by non-bank institutions; and 16 set up by non-residents.

The total number of payment systems participants except SEP amounted to 132 financial institutions.

The NBU's SEP remains the only systemically important system in Ukraine; Mastercard, Visa, NovaPay, Financial World and Postal Transfer are deemed to be key payment systems.

Important participants in payment systems, in particular PrivatBank, Kontraktovy Dom LLC and Universal Payment Solutions LLC, were recognized for the first time. The purpose of this distribution is to establish increased requirements for subjects of oversight with a significant share of the payment market.

The top five systems by amount of transactions were SEP with UAH 107.0 trillion, or 95.7% of all payments and transfers within Ukraine, followed by the NBU, PrivatBank, Raiffeisen Bank, Oschadbank and Ukrsibbank.

The biggest systems by number of transactions were card payment systems with 5.1 billion transactions or 88.2% of the total.

The number of non-cash payments using payment cards increased by 4.1% during 2022, to 5.194 billion or 92.8% of the total number of transactions with payment cards; and the amount by 56.9% to UAH 3.444 billion or 68.1% of the total amount of transactions with payment cards.