Ukrainian payers, recipients to gain payment tracking options in SEP settlement system from Dec 1 – National Bank draft
Starting December 1, 2025, participants in the National Bank of Ukraine's real-time gross settlement system SEP will be required to inform clients – both payers and recipients – that their transaction has been processed via SEP and provide the universal unique identifier (Unique End-To-End Transaction Reference, UETR) to enable tracking of the payment process.
"The aim is to standardize issues related to the introduction of the SEP payment tracking service," the NBU said on its website.
The proposed changes will be made to the rules governing interbank payment operations through SEP, set out in Instruction No. 16 on interbank payments in Ukraine's national currency.
The NBU added that a SEP-participant sender must inform the payer if a payment is rejected by another participant or by the SEP Central Processing Center, indicating the reason for rejection and the UETR of the transaction.
"These requirements will also apply to non-bank payment service providers that carry out transactions through a bank participating in the system," the central bank added.
The draft is open for comments and proposals until September 4, 2025.