The National Bank of Ukraine (NBU) has fined iPay (UPR LLC), an online platform for money transfers and online payments, 16.51 million UAH for violating the laws governing the payment market, the regulator announced.
It is noted that the violations, identified as a result of off-site supervision, concerned, in particular, inadequate control over the quality and sufficiency of information accompanying payment transactions.
The company must pay the fine within five business days from the date it is notified of the decision by the NBU’s Committee on Supervision and Regulation of Banking Activities and Oversight of the Payment Infrastructure.
In addition, the regulator issued a written warning to iPay for violating requirements regarding the management and authorization system for financial payment service providers.
The company must rectify the identified violations and take measures to prevent their recurrence within no more than 30 calendar days from the date of receiving the decision.
The committee adopted the relevant decisions on September 2.
As previously reported, in September 2025, the NBU had already fined iPay 16.6 million UAH for violations in the area of financial monitoring, specifically deficiencies in risk assessment, internal controls, handling of customer data, and reporting. At the same time, the company received a written warning for errors in reporting and record-keeping.
