🎉Ukraine🇺🇦: Major banks complete integration of instant transfers through SEP 4.1

🎉Ukraine🇺🇦: Major banks complete integration of instant transfers through SEP 4.1

The National Bank of Ukraine expects the integration of instant transfers through the Electronic Payment System (SEP) 4.1 to be completed by mid-2025.

➡️ Processing capacity: In December 2024, there were 11,500 instant payments processed via SEP 4.1, and in the first two months of 2025, the number surged to 55,200, with a total volume of 543 million UAH (13,091,947 USD).

➡️ Payment distribution:

🟡Transactions up to 1,000 UAH: 40%
🟡Between 1,000 and 100,000 UAH: 55%
🟡Over 100,000 UAH: 5%

In terms of total volume transferred:

🟡Transactions up to 1,000 UAH represent only 1%
🟡Between 1,000 and 100,000 UAH: 1.4%
🟡Over 100,000 UAH: 98.5% of the total transferred funds

➡️ Processing time: 75% of instant payments in integrated banks are processed in less than 2 seconds. According to the National Bank’s regulations, IBAN transfers between clients of different banks should not take more than 10 seconds.

➡️ Participating banks: 19 banks are already integrated, including Oschadbank, Privatbank, Ukrsibbank, Raiffeisen Bank, Sens Bank, Ukreximbank, Crédit Agricole Bank, A-Bank, along with others such as Clearing House, Sky Bank, Altbank, Idea Bank, Piraeus Bank, and Accordbank.

➡️ Key fact: On average, SEP processes 1.3 million payments daily, amounting to 658 billion UAH, though its technical capacity allows for 10 times more operations.

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