The National Bank of Ukraine revealed that electronic payments and payment card transactions rose significantly in 2012, NBU reported in a press release. During an international conference on “Payment Forum,” it was announced that card transaction payments in Ukraine accounted for over 50 percent of GDP, while transactions processed through NBU’s System of Electronic Payments exceeded GDP by eight times.
The new data has encouraged NBU, along with other financial organizations, to improve oversight of the payments system. New system practices would allow for Ukrainian payments to become more transparent and deter illegal transactions and crime. Ukraine will work towards enhancing its payment system to ensure that it meets international standards and improve reliability for consumers.
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