Next Year PROSTIR NPS to Foster Payment Card Issue
About 95% of all POS-terminals in Ukraine today accept payment cards of the PROSTIR National Payment System (hereinafter referred to as PROSTIR NPS). Popular technologies on the contactless payment technologies market, two factor on-line authentication, and interbank P2P transfers have already been introduced and the product range has been expanded.
"These are shared achievements of the market players and the PROSTIR NPS team." At the same time, this year’s targets will ensure continued successful development of the national payment system. According to the development strategy of PROSTIR NPS in 2019 we intend to foster issue of proprietary payment cards and expand the share of the national payment system in total cashless operations," noted Oleksandr Yablunivskyi, Director of the NBU’s Payment Systems and Innovative Development Department at PROSTIR DAY, the annual meeting of the PROSTIR NPS team with the payment market players.
According to Oleksandr Yablunivskyi this became possible after introducing in PROSTIR NPS cutting-edge technologies (specifically, 3DSecure 2.0 protocol version and tokenization technology for payment cards), increasing awareness and loyalty to the PROSTIR brand, as well improving trust to cashless settlements of potential and current users of payment cards of the national payment system.
While conversing the attendees also discussed burning issues and development prospects of the payment system, achievements and future plans. As part of the meeting a panel discussion was also held that included representatives of participating banks of the system (Oschadbank, Raiffeisen Bank Aval, Ukreximbank, Alpari Bank, and Altbank). Among other things the discussion covered the future of the national payment system, market outlook and possible factors effecting its development.
Agreement between PROSTIR NPS and UnionPay International and issue of co-badged cards were the highlights. This project will take PROSTIR NPS cards to the international level by means of servicing cross-border transactions thoughout the entire infrastructure of UnionPay, offer the Ukrainian banks new products, and foster competition of the payment market of Ukraine.
PROSTIR NPS is the national retail payment system established by the NBU that provides card settlements on the territory of Ukraine.
At present, the system covers Ukposhta national operator of postal services and 50 banks.
The total number of payment cards in the system is over 630,000 cards.
In 2017, a total of 10.7 million operations amounting to UAH 16.3 billion were transacted with PROSTIR NPS cards.