“Just over a year ago, we established an IT Technology Committee within the association, and one of the ideas we were working on at that time was for the association not only to collaborate with the regulator regarding banking activity regulation (capital, risks, payments, etc.) but also to serve as a platform for developing something new. The ‘Transparent Network’ is one such solution. It is our pilot project to become not only an association that assists but also a platform for launching new innovative projects in the market,” said NABU Chairman Volodymyr Mudryi.

In turn, Deputy Chairman of the NBU Oleksii Shaban expressed hope that the “Transparent Network” is also an attempt to unite around a common goal for further improvement. “The ‘Transparent Network’ presented by NABU could become one of the examples where banks see some benefit in joining forces to create a system that brings new value to the market and possibly makes some competition for existing payment services.” Participants expect that within the next two years, the “Transparent Network” will process at least 30% of all retail payments and 80% of money transfers within Ukraine

What are the advantages and opportunities of the new network?

• Payments processed in seconds
• Free P2P transfers.
• Commissions for merchants are twice as low compared to other payment systems.
• The network is built on the basis of the NBU’s Electronic Payments System (SEP), ensuring no intermediaries between banks and compliance with legal requirements.

How can people use the network?

All a customer needs is their bank’s mobile application:

• For in-store payments — show or scan a QR code.
• For online payments — select the “Transparent Network” option on the website and confirm the payment.
• For P2P transfers — simply find your relative, friend, or acquaintance in your phone book or send a QR code or link via any messenger.

How can banks, merchants, and other interested parties join the network?

For more information about the “Transparent Network” and to become a participant or partner, visit the website prozora.network or contact the Independent Association of Banks of Ukraine. The “Transparent Network” is always open to cooperation and expansion.