Mobile phone instead of a wallet: the Cabinet has removed barriers in the market of mobile payments

The government approved a decree that removes the barriers in the mobile payment market, so now using a mobile phone you can pay for services not related to mobile communication. This was stated by first Vice Prime Minister, Minister of economic development and trade of Ukraine Stepan Kubiv.

“The mobile payments market to be. Today, the government has removed a major barrier that hindered settling by using mobile phone. Because mobile services is charged to the pension levy. Here it was necessary to resolve the mechanism of return of these funds if the payment from a mobile is not connected with payment of services of Telecom. Now this obstacle is eliminated,” – said Kubiv.

We are talking about the draft resolution of the Cabinet of Ministers “On amendments to resolution of the CMU of 3 November 1998 No. 1740 and dated April 11, 2012 №295”.

The explanatory Memorandum stated that two years after introduction in Ukraine the technology of mobile payments these services will use about 8 million Ukrainians, and the volume of this market in the first year after the introduction of this technology will amount to more than $ 600 million.

It is also noted that the adoption of this resolution will contribute to the development of the mobile payments market and meets the requirements of the Comprehensive program of development of the financial sector of Ukraine till 2020, approved by the resolution of Board of National Bank of Ukraine from June 18, 2015 No. 391.

The head Office of effective regulation Alexey Goncharuk, who participated in the drafting of this resolution, noted that very soon Ukraine mobile phone can be used as a purse.

We will remind, the Cabinet decided on the terms of the tender for 4G.