On November 11, 2021, the AMCU granted its approval to Mastercard and Visa fоr reduction of interchange fee rates in Ukraine. The initiative is implemented through the Memorandum on facilitation of competitive payment markets in Ukraine between Mastercard Europe S.A., Visa International Service Association and the National Bank of Ukraine. Following the approval of the AMCU, the first interchange rates reduction was made in 2021 and will be followed by subsequent reductions in July 2022 and July 2023. This is one of international precedents of interchange fee decrease in market self-regulatory manner. It is expected that such market-driven approach will stimulate further acceptance and cashless payments in Ukraine. This is a landmark project in Ukraine.

CLACIS has supported Mastercard throughout the whole project.

CLACIS team was led by Managing Partner Antonina Yaholnyk with support from Associate Anastasiia Zeleniuk.