Central Banking

National Bank of Ukraine to overhaul payments system

Governor Valeriia Gontareva

The National Bank of Ukraine is working on contactless payment technology and exploring the possibility of using mobile apps to make payments as part of efforts to upgrade its payments system, it announced last week.

Deputy governor Yakiv Smolii said the central bank has already "overhauled" the payment system" and the now-upgraded National System of Mass Electronic Payments (NSMEP) "meets the international standards".

The central bank wants to facilitate the wider use of the NSMEP across the co

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