NBU starts transfer of Ukraine's payment infrastructure to intl standard

The National Bank of Ukraine (NBU) has launched a new project on the transfer of the Ukrainian payment infrastructure to international standard ISO 20022, according to the regulator's official Facebook page.

"As part of the project, a unified platform of interaction between participants in the Ukrainian payment infrastructure will be created, on the basis of which it will be possible to implement instant, continuous payments with straight-through processing not only for national but also for cross-border settlement," the director of the NBU department of payment systems, Serhiy Shatsky, said when presenting the project to representatives of banks, software developers and other participants in the payment system.

According to the project plan, the final transition to the new standard is scheduled for October 2019.