KIEV, Oct. 1 – The Visa international payment system's criticism of the law on the functioning of payment systems in Ukraine passed by the Ukrainian parliament is not in line with the behavior of the company on the U.S. market, according to Director of the Ukrainian Interbank Payment Systems Member Association EMA, Oleksandr Karpov.

"The position [of Visa] is not in line with their behavior on the U.S. market, where they observe the tougher and all-embracing requirements of the FRS, which were passed in a law on financial stability in 2010," he told Interfax-Ukraine on September 28, 2012.

Karpov said that Ukraine needs the realization of the law on the functioning of payment systems, and the flaws in the law can be corrected in future.