THE ESSENCE AND INDICATORS OF PAYMENT SYSTEM ACTIVITY IN UKRAINE: PROBLEMS AND PROSPECTS OF DEVELOPMENT

Є. Палкуц

Abstract


Abstract. The essence and evolution of payment systems are investigated in the article. It is established that the current stage of the evolution of payment systems is characterized by increased attention to them both from regulators and from participants and users of such systems. Based on the generalization of approaches to defining the concept of “payment system” encountered in the scientific environment and the legal field, its own definition is proposed: “the payment system is a collection of financial institutions that carry out systematic activity in the field of payments and payments in the economy and (or) its individual sectors based on established norms and rules in order to ensure sustainable macroeconomic development and socio-economic efficiency of entities”. The regulatory framework was formed, according to which they are subject to regulation and oversight (oversight) of payment systems by the NBU. The peculiarities and level of development of national legislation to the requirements of the present are revealed. The structure of the national payment system is analyzed in terms of payment systems operating in Ukraine (public and private, established by banking and non-banking institutions, as well as those operating exclusively in the territory of Ukraine and those that are international payment systems). The performance of private payment systems for the period from 2013 to 2018 is analyzed. The conclusion is made about the gradual resumption of funds transfers inside of the country after a significant fall in 2014-2015. The prospects for improvement of payment systems in Ukraine in the context of the new Strategy for the development of the financial sector by 2025 are outlined. In order to improve the payment system of Ukraine, the NBU developed the Concept of a New Model of Legislative Regulation of the Payment Market and Funds Transfer. The new national payment legislation plans to implement the European PSD2 Directive, in particular the Open Banking concept, to enhance competition, protect the rights of payment services users and the rapid introduction of new technologies. Oriented Approach to Overtime Billing Systems, Continuous Cooperation of the NBU with Other Supervisory Authorities, both within and outside the country.

 

Keywords: cashless payments, payment system, evolution, payment systems overtime, SEP


References


Терентьева Е.А. Основные этапы формирования платежных систем / Е.А. Терентьева // Проблемы современной экономики. – 2014. – №3. – С. 200-204.

Пожидаєва М. А. Роль міжнародних стандартів у правовому регулюванні платіжних систем / М. А. Пожидаєва // Публічне право. - 2016. - № 4. - С. 115-121.

Про платіжні системи та переказ коштів в Україні: Закон України від 05.04.2001 № 2346-III // Відомості Верховної Ради України. – 2001. – № 29. – Ст. 137.

A glossary of terms used in payments and settlement systems / Bank for International Settlements, CPSS. – Basel: BIS, 2003. – 53 р.

Словник фінансово-правових термінів / за заг. ред. д. ю.н., проф. Л.К. Воронової. – 2-ге вид., переробл. і доповн. – К.: Алерта, 2011. – 558 с.

Кравченко І. С. Визначення сутності поняття «платіжна система» / І. С. Кравченко, Ю.С. Балакіна // Фінансовий простір. – 2014. – № 3 (15). – С. 141–144.

Концепція реформування платіжного законодавства України: офіційний сайт Національного банку України. – 2019. – 23 с. – [Електронний ресурс] – Режим доступу: https://bank.gov.ua/doccatalog/document?id=99904490

Звіт з оверсайта платіжних систем за 2018 рік: офіційний сайт Національного банку України. – 26 с. – [Електронний ресурс] – Режим доступу: https://old.bank.gov.ua/doccatalog/document?id=92100568

Дані щодо діяльності в Україні у 2018 році систем переказу коштів, створених резидентами та нерезидентами: Національний банк України [Електронний ресурс] – Режим доступу: http://www.bank.gov.ua/control/uk/publish/article?art_id=105263&cat_id=105262


Refbacks

  • There are currently no refbacks.


Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.