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The president of the National Bank of Ukraine (NBU), Kirill Shevchenko, said that the institution advocates market regulation of the issue of determining the commission and fees in payment systems and will be guided exclusively by the interests of the final consumers.
On his Facebook page, he posted an analysis of the possible consequences of the introduction of state rate regulation, a widely discussed procurement bill.
He noted that the NBU opposes legislative regulation, which will lead to slowing the development of cashless payments and payment infrastructure in Ukraine. This, according to him, will not lead to a decrease in prices, but to an increase in costs for the final consumer.
“Opponents of market regulation are trying to argue that legislative regulation is supposed to be able to lower prices for the final consumer, but this is not the case. On the contrary: the price of goods will not go down, the cost of banking services for Cardholders will probably increase, some services will slow down their development. and the development of a common payment infrastructure, this can only have a negative impact, “Shevchenko wrote.
According to him, studies on the effects of regulation in Europe show that:
• retail prices of goods and services did not decrease: a decrease in merchant costs did not lead to a decrease in the cost of goods;
• the cost of services for payment card users, on the contrary, has grown: in several countries, banks have increased the cost of servicing accounts;
• Credit conditions worsened: grace periods for credit cards were reduced or canceled entirely and interest rates were raised.
According to the head of the NBU, it would be correct to discuss everything related to changes in the operation of payment systems with the participation of the public, the professional community, representatives of the legislative body.
As OBOZREVATEL previously reported, Shevchenko answered Bloomberg’s burning questions, speaking about cooperation with the IMF, the Privat Bank case, and the policy that the National Bank will follow.
