іМоRе №129. The Electronic Payment System will work 23/7 after the quarantine

The Index for Monitoring Reforms (iMoRe) is +0,4 points for the period from February 17 to March 8, 2020 within the range from -5,0 to +5,0. Index for the previous round was +0,5 points.

Author:

Among the main events of the round is the decision by the NBU Board to launch a 23/7 e-sales system.

Chart 1. iMoRe Dynamics

Chart 2. іMoRe and its components in the current round

Decision by the NBU Board to launch a 23/7 electronic payment system, +2.0 points

The Electronic Payment System (ESP) provides payments to banks and their clients in UAH within Ukraine. It serves 96% of all interbank payments.

Decision of the NBU Board №142 of 02/25/2020 stipulates that the system will make payments 23 hours a day 7 days a week (23/7).

Initially, according to the decision, the system was to be launched as of April 1. However, after the quarantine was announced, the launch was postponed. New launch date is set 30 calendar days after quarantine is over.

Chart 3. Value of іMoRe components and number of events

Note: Index for Monitoring Reforms (iMoRe) from VoxUkraine aims to provide a comprehensive assessment of reform efforts by Ukraine’s authorities. The Index is based on expert assessments of changes in the regulatory environment in five areas:

  1. Governance
  2. Public Finance
  3. Monetary system
  4. Business Environment
  5. Energy

For details please visit imorevox.org.

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