STS and VISA will jointly develop the non-cash economy in Ukraine

State Tax Service of Ukraine and global VISA Payment Technology Company signed a Memorandum of Cooperation. Chairman of the STS Serhii Verlanov and Senior Vice President and Director of Regional Development of VISA in the CIS and Southeastern Europe Vira Platonova participated in the signing ceremony.

This document envisages the action plan for cooperation in the development of the non-cash economy in Ukraine. Specifically, these are joint measures whereby the STS and VISA will inform citizens about the benefits of using electronic payments. After all, reducing cash flow is one of the ways to counteract the shadow economy. In addition, there are planned media measures to improve financial and tax literacy of Ukrainian citizens. STS and VISA will also develop and implement projects to promote and spread digital business and commerce within the framework the Memorandum.

“We signed the Memorandum with the world-famous VISA. This partner of strategic technology will help us to reform and improve service for our clients - citizens and business representatives. Jointly we will promote cashless payments in the country. First and the foremost, to reduce the shadow and unaccounted sectors of economy and increase the level of well-being of Ukrainians” – emphasized Chairman of the STS Serhii Verlanov.

In turn, Senior Vice President and Director of Regional Development of VISA in the CIS and Southeastern Europe Vira Platonova noted that Ukraine has a great potential for developing cashless economy but it is also important to unite efforts of the state, business representatives and technology companies.