NBU’s resolution No.705
The National Bank of Ukraine approved the provision concerning the issue of electronic payment devices, Resolution of the NBU No.705 passed on November 5 says, the Ukraine’s Ministry of Finance reports.
“To approve the procedure for issue of electronic payment devices and making relevant operations”, - the document says.
Therefore, the resolution of the NBU passed on April 30, 2010, under No.223, On Operations with Special Payment Devices, decided to be invalid, including par. 4 of the resolution dd. November 4, 2010, No.481 On Amendments to Some Legislative Documents of the National Bank of Ukraine concerning the regulation of issue and circulation of electronic money. The NBU compels the banks that perform the issue and acquiring of electronic payment devices to bring its activity in compliance with the requirements set out in the resolution within three months, while the banks that use processing services of non-resident institutions - within six months. The resolution comes into force on the date following the date of official publication.
It is worth noting that the said provision sets out general requirements of the NBU to the issue of electronic payment devices by resident banks, branches of foreign banks, and specifies the use procedure.
