Digital Transformation elaborates on PayPal, Stripe entry into Ukraine's market.

REUTERS

REUTERS

The Ministry of Digital Transformation of Ukraine plans to hold meetings with the management of the international payment systems PayPal and Stripe to discuss their possible entry into the Ukrainian market.

"Attracting the major international electronic payment systems to Ukraine, including Stripe and PayPal, is a priority issue, which the Digital Transformation Ministry has been dealing with for about a year... We plan to meet with the management of PayPal and Stripe," a source in the ministry told UNIAN on April 7.

An important step in this regard is the adoption of a number of legislative changes, in particular, Bill No. 4364 "On Payment Services", which takes into account EU Directive PSD2, governing payment services in the European Union.

The bill has only passed its first reading so far.

Read also Digital transformation ministry in talks with PayPal, Netflix on operational launch in Ukraine Background

In May 2020, the Ministry of Digital Transformation said it was in dialogue with the operator of one of the world's largest payment systems, PayPal, on the prospects of its entry into the Ukrainian market.

In December 2020, the National Securities and Stock Market Commission (NSSMC) announced it had accepted for circulation in Ukraine shares of six American tech giants.

In February 2021, Deputy Minister for Digital Transformation Oleksandr Bornyakov said the ministry was in talks with PayPal and streaming service Netflix on their entry into the Ukrainian market.

Translation: Yevgeny Matyushenko

Unian

Read the top-news of politics in Ukraine and the world, the latest political news from the UNIAN news agency.

https://www.unian.info/

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