KIEV, April 22 – The Antimonopoly Committee has recommended Ukrainian banks cut fees for services in the Visa payment system.

The committee expects that banks will reduce the fees to a level matching the reduction in fees for services provided by Visa International Service Association (the United States), which sets the rules for the Visa payment system's operations in Ukraine.

"The requirements concern 120 banks [out of the 176 operating Ukrainian banks], which are members of the [Visa] payment system," reads a committee report.