17:36, 2 June 2009 Page views 273 views

Victor Suslov: Cashless Payments Must be Activated in Ukraine

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According to Head of the State Commission for Regulation of Financial Services Markets of Ukraine Victor Suslov, Ukrainian banking sector should activate support of cashless payments system, stimulate card payments and maximally limit sphere of cash circulation and commute cash for card transactions in day-to-day payments of consumers.

Mr. Suslov said that citizens should be obliged to pay for goods and services only by cards. This step may strongly activate and speed up transactions, and also reduce expenses. National bank of Ukraine (NBU) should give up the current practice when fees for cashless payments are higher than fees for payments by cash.


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