If the bill on reducing the bank acquiring commission is adopted, PrivatBank will lose up to UAH 5,3 billion in profit per year.

Also, a top manager of the largest Ukrainian bank said that the new law will lead to a significant drop in the number and volume of non-cash transactions. A decline is forecast from 55,2% to 25,6%.

In addition, if the law is introduced, Ukrainian banks will have to abandon support for Apple Pay and Google Pay. Operations through services will become unprofitable in Ukraine. The cost of servicing cards for clients will also rise.