12789 The deputies did not support the bill to facilitate the release of the Ukrainian market PayPal, Apple Pay and Google Wallet

The deputies did not support the bill to facilitate the release of the Ukrainian market PayPal, Apple Pay and Google Wallet



Eugene Lubnicki

94

The deputies did not support the bill to facilitate the release of the Ukrainian market PayPal, Apple Pay and Google Wallet

Deputies of the Verkhovna Rada of Ukraine has supported at first reading draft law No. 5361-d “On amendments to some legislative acts of Ukraine regarding the regulation of transfer of funds”, which would greatly facilitate the release of the Ukrainian market of such international payment systems as PayPal, Apple Pay, Google Wallet, etc.

Out of 226 required for passage of the bill the basis of the vote of 180 MPs, as attempts by the speaker of Parliament Andriy Parubiy to return the bill for revision were unsuccessful.

The document gave the right to issue electronic money not only to banks but also other financial institutions licensed to transfer funds without opening an account. The bill also allowed the state Treasury to issue electronic money for the payment of taxes and other obligatory payments.

The NBU stated that disappointed with the result of the vote:

“The national Bank has repeatedly emphasized the relevance of legislative changes in the regulation of activities of payment systems. This is due to the need for the implementation of European law and the rapid development of the payment market in Ukraine and in the world. The national Bank hopes that the regulation of the transfer of funds will be legally updated and will be based on clear, equitable and fair rules”.

Earlier, we told you that Xiaomi company introduced its own payment system Pay Mi.

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