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RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of July 2, 2025 No. 71

About approval of the Regulations on procedure for liability insurance of suppliers of non-financial payment services before users and payment service providers on servicing of accounts

According to Articles 7, of 15, 56 Laws of Ukraine "About the National Bank of Ukraine", article 20 of the Law of Ukraine "About payment services", for the purpose of establishment of procedure for insurance by suppliers of non-financial payment services (except banks) responsibility to users and payment service providers on servicing of accounts the Board of the National Bank of Ukraine decides:

1. Approve Regulations on procedure for liability insurance of suppliers of non-financial payment services before users and payment service providers on servicing of accounts (further - the Provision) which is applied.

2. Department of methodology of regulation of activities of non-bank financial institutions (Sergey Savchuk) after official publication to inform insurers, payment service providers on servicing of accounts and non-bank payment service providers information on adoption of this resolution.

3. Before entry into force of Items 12, 14 Provisions and appendices to the Provision:

The minimum size of insurance sum in case of the conclusion of the insurance contract of responsibility of the payment service provider on initiation of payment transaction or the insurance contract of responsibility of the payment service provider on provision of data from accounts constitutes 1):

since August 01, 2025 - 30 thousand euros;

since January 01, 2026 - 70 thousand euros;

since July 01, 2026 - 110 thousand euros;

The minimum size of insurance sum in case of the conclusion of the insurance contract of responsibility of the payment service provider on initiation of payment transaction and the payment service provider on provision of data from accounts constitutes 2):

since August 01, 2025 - 50 thousand euros;

since January 01, 2026 - 130 thousand euros;

since July 01, 2026 - 180 thousand euros;

3) the insurance contract of responsibility of the payment service provider on initiation of payment transaction and/or liability insurance of the payment service provider on provision of data from accounts can provide the unconditional franchize in the amount of, not exceeding:

since August 01, 2025 - 30% of insurance sum;

since January 01, 2026 - 20% of insurance sum;

since July 01, 2026 - 10% of insurance sum.

4. The insurance contracts of responsibility of the payment service provider on initiation of payment transaction and/or liability insurance of the payment service provider on provision of data from accounts concluded according to the requirements determined in Item 3 of this resolution continue to be effective before end date of their action irrespective of the minimum size of insurance sum established for the period in which they act.

5. The resolution becomes effective since August 01, 2025, except Items 12, 14 Provisions and appendices to the Provision which become effective since January 01, 2027.

Approved by the Resolution of Board of the National Bank of Ukraine of July 2, 2025 No. 71

Regulations on procedure for liability insurance of suppliers of non-financial payment services before users and payment service providers on servicing of accounts

1. This Provision is developed according to the Law of Ukraine "About the National Bank of Ukraine", the Law of Ukraine "About payment services" (further - the Law on payment services), the Law of Ukraine "About insurance" (further - the Insurance law).

2. Terms in this Provision are used in the following values:

1) the requirement - the claim and/or the claim of the injured third party to the insurer about indemnification (losses) caused (caused) by the insurer to the injured third party;

2) the injured third party - the user to whom harm (losses) by the insurer, or the payment service provider on servicing of the account regarding the suffered losses and the amounts compensated to users for the damage (losses) caused (caused) by the insurer during initiation of payment transaction and/or provision of data from accounts is done;

3) the insurer - the payment service provider on initiation of payment transaction and/or on provision of data from accounts, except bank (further - the supplier of non-financial payment services), the signed insurance contract of responsibility of the payment service provider to users of payment services (further - the user) and payment service providers on servicing of accounts (further - the insurance contract of responsibility).

Other terms in this Provision are used in the values given in the Law on payment services, the Insurance law, other laws of Ukraine and regulatory legal acts of Ukraine in the sphere of insurance and in the sphere of provision of payment services.

3. This Provision establishes procedure:

1) conclusion of the insurance contract of responsibility;

2) determination of conditions of liability insurance of the supplier of non-financial payment services before users and payment service providers on servicing of accounts.

4. Requirements of this provision extend on:

1) insurers;

2) insurance intermediaries;

3) predostavitel of non-financial payment services.

Requirements of this provision regarding obligation of the conclusion of the insurance contract of responsibility do not extend to banks.

5. The insurance contract of responsibility is signed on class of insurance 13 "Insurance of other responsibility (except determined in classes 10, of 11, of 12)", determined in Item 13 parts one of Article 4 of the Insurance law, with the insurer having the current license granting the right to perform activities for insurance for one of the following risks:

1) insurance of other responsibility to the third parties, than the operator liability of nuclear installation for nuclear damage which can be caused as a result of nuclear incident, with restrictions and features which give the grounds for application of the simplified approach for calculation of the capital of solvency and the minimum capital;

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