"Today we have got a very large share of payments in local currency. It is characterized as not very transparent economy on the global scale. We have a really high percentage of cash in the monetary mass," the director of the monetary policy department of the National Bank of Ukraine Olena Shcherbakova said reminding that the National Bank of Ukraine offered to develop a system of noncash payments. "We need to increase the share of noncash supply for payment use," she said.
The representative of the National Bank reported that currently the relevant department of the National Bank is engaged in "promotion and juvenation of technologies that the National Bank works with." "I believe that our Ukrainian card will be launched soon," Shcherbakova said.
She also stressed that the increase in the share of noncash payments should be done gradually. "There should be a standard approach to everything and we should not make a revolution.
Historically, we have a high share of payments in cash. The transition should be done gradually," Shcherbakova said adding that firstly we have to create a culture of noncash payments.
In turn, the chairman of the Raiffeisen Bank Aval Volodymyr Lavrenchuk added that the currency in cash is very expensive to manufacture and store. The noncash payments will be free for consumers and, in addition, banks are interested in their development. "Our society and state tend to be more transparent ... all market participants are interested in it," he said.
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