Critical Entities of Ukraine’s Payment Infrastructure Designated

For the purpose of performing the oversight function, the NBU has determined the list of critical entities of the payment infrastructure of Ukraine based on monitoring their operations in 2023.

The NBU’s System of Electronic Payments (SEP) is the only systemically important payment system in Ukraine.

The following payment systems are classified as important: 

• MasterCard, MasterCard International Incorporated, USA
• Visa, Visa International Service Association, USA
• NovaPay, NovaPay LLC, Ukraine
• PrivatMoney, CB PrivatBank JSC, Ukraine
• MONEYCOM, SWIFT GARANT LLC, Ukraine
• Finansovyi Svit, Ukrainska Platizhna Systema LLC, Ukraine.

Please note that two payment systems — PrivatMoney and MONEYCOM — are new on the list compared to 2022.

Furthermore, based on the performance in 2023, the NBU defined important participants of the payment systems.

Specifically, the list of important participants of the systemically important and important payment systems includes: 

•  CB PrivatBank JSC (SEP NBU, MasterCard, Visa)
• FUIB JSC (PrivatMoney)
• FC KOTRAKTOVYI DIM LLC (Finansovyi Svit)

Also, based on the results of 2023, three important technical service providers were defined: AC DC PROCESSING LLC, Ukrainian Processing Center PJSC, and TAS LINK LLC.

The regulator classifies payment infrastructure entities by importance in accordance with the international practice to improve their stability and performance, as well as to bring their operations in line with international oversight standards.

The NBU sets tighter requirements for payment infrastructure entities that fall into the importance categories, in particular, requirements related to governance and management of operations, payment system access and membership, risk management system, settlement finality, cyber resilience, and business continuity management.