KIEV, Oct. 3 – A law on the functioning of payment systems passed by Parliament in the future could lead to the violation of principles of competition on the national market and will hinder the development of the country's payment system, according to MasterCard international payment system.

"The wording of some articles of draft law [No. 10656, which was approved by the parliament, but has not been signed by the president] foresees rather broad interpretations, which in the future could lead to violations of principles of competition and conditions of Ukraine's integration international global economic society," said Alexei Malinovsky, Director for Interaction with the State Bodies in Russia, CIS countries, Central and East Europe of Master Card Europe.

Malinovsky expresses alarm at the fact that some amendments to the document proposed by the representatives of the industry were not taken into account by the parliamentary committee during the revision of the document for second reading.