The Board of the national Bank approved the Concept of the extended procedures in the framework of the BOT 24/7
The system of electronic payments (Sep) the National Bank of Ukraine will work around the clock, since the second quarter of 2020. About it reports a press-service of the NBU.
“The introduction of round-the-clock work BOT corresponds to world tendencies of development of payment systems in terms of availability of service for members of payment system 24/7/365,” reads the message.
The national Bank noted that the clock will contribute to the expansion of client access to financial services, increasing the share of cashless payments, and will also enable the banks and their clients to ensure time sensitive payments.
The introduction of day and night operation of the EPAs will be implemented in two stages.
In the first phase will be a transition to the extended work schedule of Sep. It provides for access to the payments system 23 hours a day, 7 days a week (23/7) with technological break in the hour when moving to a new day. At the same time preserved the existing technology, EPA, the procedure for drawing up accounting and statistical reporting. This mode of operation, EPA proposed to introduce in the second quarter of 2020.
The second stage will be implemented the so-called “seamless” mode 24/7. I.e., the transition from the current to the next banking day will be performed instantly, without suspension of reception of payments in EPAS. This mode of operation will be implemented in the framework of works on creation of next-generation EPAS (EPAS-4).
Now the NBU is working on the implementation of the first phase of the introduction of day and night operation of EPAS. The regulator discuss with the banking community the basic principles of the BOT mode 23/7.
In NBU reminded that today, the BOT accepts interbank payments from 8.30 to 19.00 on working days and not working on holidays and weekends.
According to the NBU, in 2018 through Sep it has been 357 million payments in the amount of 25 trillion UAH.