Instant transfers of the Electronic Payment System (EPS) 4.1 of the National Bank of Ukraine are already used by 19 banks out of 61 on the market, of which 8 are systemically important. The regulator reported this to the Interfax-Ukraine agency.
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“Some banks have already implemented this functionality on their part, and now 75% of all instant payments are processed within 2 seconds, and 88% within 3 seconds,” said Deputy Head of the NBU Oleksiy Shaban.
According to him, if in December 2024 there were 11.5 thousand instant payments, then in the first two months of 2025 there were 55.2 thousand payments for a total of UAH 543 million.
Shaban added that the dynamics of connecting banks suits the regulator and he hopes that in the first half of 2025 all systemically important banks will implement this opportunity.
The Deputy Head of the NBU noted that the new update of the SEP was focused specifically on instant transfers and a condition was set that a payment sent by a user of one bank to another using IBAN details should take up to 10 seconds.
The NBU representative specified that on average 1.3 million payments worth about UAH 658 billion are processed in the SEP per day, although it is capable of processing 10 times more payments.
Shaban also provided data on the structure of payments for the past year: in terms of quantity, the largest share is made up of transactions up to UAH 1,000 – 40%, payments from UAH 1,000 to UAH 100,000 account for 55%, and transactions over UAH 100,000 make up 5%.
However, according to him, the situation is different in terms of the amount: payments up to UAH 1,000 account for only 1% of the total amount, transactions from UAH 1,000 to UAH 100,000 account for 1.4%, while transactions over UAH 100,000 account for 98.5% of the total amount of payments.
According to the National Bank, as of March 19, 2025, 20 direct participants of the SEP instant transfer are participants in the system, including the National Bank and 19 banks: Oschadbank, Privatbank, UkrSibbank, Raiffeisen Bank, Ukreximbank, Credit Agricole Bank, A-Bank Idea Bank, EPB, Creditwest Bank, Piraeus Bank, Agroprosperis Bank, Accordbank, Kominbank, Bank Avangard.
Let us recall
The new version of the electronic payment system of the National Bank of Ukraine — SEP-4.1 — with the functionality of instant credit transfers began operating on December 1, 2024.
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