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The Law "On Payment Services" required payment systems to go through the authorization procedure (license renewal) at the National Bank of Ukraine.

"WayForPay had already submitted documents to the National Bank of Ukraine for license renewal four times and received formal refusals. The NBU website contains information on the relicensing of only 21 out of 147 payment systems. Despite the obstacles, WayFoPay resumed transactions with the involvement of partner services," said Gennadiy Vasyukov, CEO of WayForPay.

allTax advises the WayForPay payment system on the possibility of renewing the license out of court by preparing documents and conducting negotiations with the NBU.

"The litigation will continue for months, and WayForPay needs faster and more effective means of protection. Therefore, WayForPay is preparing a new package of documents for the NBU, taking into account the comments of the regulator of the market of payment systems and financial services," noted lawyer Artem Sereda, partner of allTax.

About WayForPay:

WayForPay (LLC "WAY FOR PAY") is one of the market leaders among payment systems

the company has more than 35,000 registered users

every month + 900 new users in the field of e-commerce

has an integrated PRO for the fiscalization of online payments

WayForPay conducts thousands of online transactions every day

WayForPay has passed verification and received a license from the National Bank of the Czech Republic to accept online payments in EU countries.