On November 28, the Central Bank announced that by the end of 2020 it expects to increase the use of credit and debit cards. To this end, a working group was set up to draft a new bill for regulating payment services. According to the entity, once finalized the document will be presented for public discussion. This is expected to happen in the coming months.
According to Sergii Kholod, Vice Governor of the Central Bank, the expansion of contactless payment infrastructure and innovations “play an important role in the popularity of cashless payments”. However, he pointed out that the sphere of payment market regulation needs updating and modernization. In this regard, he reported that currently a group of experts is working on drafting a bill that is expected to be introduced “in the near future”.