KIEV, Sept. 5 – The National Bank of Ukraine is demanding that banks accelerate the transition to issuance of chip payment cards for the more effective prevention of card fraud.

"Banks should monitor transactions with the use of payment cards through ATMs; accelerate a transfer to the use of payment cards with chips; and set daily limits on the sums and the number of card transactions by cardholders, both in Ukraine and outside the country," reads an NBU letter to banks (No. 25-312/1898-11979).