Ukraine’s path toward joining SEPA payment schemes

Ukraine’s prospective accession to the Single Euro Payments Area (SEPA) has already helped bring Ukraine closer to EU standards on payment services and anti-money laundering. Successful accession could enable cheaper and faster payments between Ukraine and the EU. Preliminary estimates suggest potential savings of up to €100 million, although this figure is indicative and will depend on transaction volumes and the tariff levels applied after accession.

This would be an important step towards the full integration of Ukraine’s financial sector into the European financial space. In particular, Ukraine could potentially be granted access to the EU internal market for financial services even before full EU membership.

More analysis is available in the document below.