The law of Ukraine On Payment Systems and Funds Transfer in Ukraine proposes to set the amount of commission, where interchanging may not exceed 2% of the amount of the payment transaction.
"The purpose of this bill is to harmonize the legislation on interchanging with the legislation of the European Union by gradually moving to the maximum amount of interchange commission at the level established by Regulation 2015/751 of the European Parliament and the Rada (parliament of Ukraine) of April 29, 2015" said in an explanatory note to the bill.
The option of reducing the interchange size limit by transposing the ratio of the average transaction cost to the commission rate, which was in force in the European Union at the time of the introduction of the interbank commission limit, is proposed.
It is planned to state in the law of Ukraine On Payment Services that from January 1, 2025 the amount of interchanging may not exceed 0.8% of the amount of the transaction performed using a debit card and 1.2% of the amount of the transaction by credit card.
The merchant is obliged to encourage the user to use payment cards by reducing by 1.2% the amount of the actual debit. Reduction of write-off is provided automatically by payment system operators.
Until January 1, 2025, establish that the amount of commission interchanging may not exceed:
- from the date of entry into force of this Law until December 31, 2022 — 1,8% of the transaction amount;
- from January 1, 2023 to December 31, 2023 — 1,6% of the transaction amount;
- from January 1, 2024 to December 31, 2024 — 1,4% of the transaction amount.
Temporarily, until January 1, 2025, establish that the merchant is obliged to encourage the user to use payment cards by reducing the amount of actual debit from the user in favor of the merchant for a specific payment transaction for goods, works, services of the merchant provided the user pays with using:
- from the date of entry into force of this Law until December 31, 2022 — by 0,2%;
- from January 1, 2023 to December 31, 2023 — by 0,4%;
- from January 1, 2024 to December 31, 2024 — by 0,6%.
Penalties in the amount of 500 non-taxable minimum incomes of citizens (around 312 USD) will be applied for exceeding the statutory interchange commission limits set by law.
The task of the draft law is to create preconditions for maintaining and potentially increasing the amount of non-cash payments using payment cards.