The National Bank has determined the procedure for assigning payment systems to the types of significance

The National Bank has determined the procedure for assigning payment systems to the types of significance, and also approved the current list of criteria that will guide the classification. The corresponding decision was made by the resolution of the Board of the National Bank of September 22, 2026 No. 204, which enters into force after official publication. This is reported on the website of the National Bank, writes sb.by.

In accordance with the Law on Payment Systems and Payment Services, payment systems are divided into significant and other payment systems, and significant payment systems in turn into three types of significance. Thus, a systemically important payment system is a payment system, a violation of the functioning of which can cause and spread systemic failures in the payment market, potentially significant - one whose dysfunction can lead to a disruption of the functioning of a systemically important payment system or cause a systemic failure in the payment market, socially significant - a system whose problems in functioning can undermine public confidence in payment systems as a mechanism for receiving payments and settlements in a non-cash form.

The classification of payment systems is determined by the National Bank to determine the role and degree of influence on the payment market of the country, as well as to establish requirements for payment systems and their operators depending on the type of significance.

Information on the recognition of the payment system as significant (lost importance) will be posted on the official website of the National Bank. Assessment of significance is provided for at the end of each calendar year.

“The decision is aimed at ensuring the reliable, safe and efficient functioning of the payment market by increasing its stability due to targeted requirements for systems of different levels of importance, primarily systemically and socially significant, whose failures can have the most serious impact on market stability and user confidence. This approach will allow not only to identify and stop potential threats in a timely manner, but also to build a proactive regulatory model adapted to the scale and specificity of the risks of each payment system.

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