Fintech & digital payments rules in Ukraine (2026)

The Law on Payment Services (No. 1591-IX) entered into force on 1 August 2022 and overhauled the entire payments market, breaking the prior banking monopoly and introducing nine licensed PSP categories. The NBU is the exclusive licensing and supervisory authority.

Non-bank entities can be authorised as payment institutions or e-money institutions (EMIs) by applying to the NBU and being entered into the Register of Payment Infrastructure. The NBU must decide within 60 business days (extendable by 30 days). Professional liability insurance is required from the date of registration.

Ukraine's open banking framework became fully operational on 1 August 2025, mandating API access to account data for authorised AIS (Account Information Service) and PIS (Payment Initiation Service) providers. Account-servicing banks must achieve compliance by 1 January 2026 under NBU Board Resolution No. 81 (25 July 2025).

The NBU launched SEP 4.1 in December 2024, providing instant credit transfers executed within 10 seconds, 24/7. The system is built on ISO 20022 and aligned with SEPA schemes; Ukraine made an official declaration to join SEPA in June 2025. By March 2025, 19 of 61 banks had adopted instant payments.

Ukraine has no dedicated BNPL-specific regulatory framework as of mid-2026. BNPL products fall under general consumer credit and payment services legislation rather than a bespoke regime; no draft BNPL-specific law has been publicly identified.

The Payment Services Law was explicitly designed to harmonise with EU PSD2, facilitating Ukraine's integration into the European payment market. The NBU also operates a regulatory sandbox for testing new fintech products with simplified authorisation. SEPA accession negotiations are active following the June 2025 declaration.