PayPal has no plans to enter Ukraine next year

The international system of online payments, PayPal, has no intention to start operating in Ukraine over the next 12 months, the National Bank reported on Facebook citing its director of its payment systems and innovative development department Serhiy Shatsky as saying.

”Unfortunately, the international system of online payments, PayPal, whose launch is awaited by the majority of Ukrainians, has no plans to operate in Ukraine within the next 12 months, but this is not the only such system that may be interested in the national payment market,” Shatsky said, according to the NBU.

He noted that one of the priorities for the National bank of Ukraine is developing cashless economy in Ukraine, adding that the regulator was working hard to make progress in this direction.

”The main focus of the joint efforts of the banking system today should be on changing the habits of Ukrainians. This will be possible if interesting innovative payment solutions are offered and continuous awareness campaigns are held on the benefits of cashless payments,” Shatsky said.

According to him, the NBU is able to implement alternative innovative ways and methods of transactions based on the national payment system PROSTIR, at the same time contributing to the development of payment market and digital banking services in Ukraine.

”It is expected that the introduction of such alternative methods of non-cash payments will increase the share of non-cash transactions by 10-15%,” he said.

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