And in Ukraine?

For banks it means that in practice all the frauded-transactions, where the client may loose money,  will be covered by the issuing financial institution, till it is approved by the issuing bank that the theft of the money was caused by the client. However, this innovation from VISA was negatively perceived by ukrainian bankers.

And - before any changes of  appropriate regulations will be done by National Bank of Ukraine (NBU), it is a  purely declarative term.

National Bank has developed a draft decree "About Amending Resolution of the Board of the National Bank of Ukraine, dated 5.11.2014, № 705".

Additional to  some terminological clarification, the project proposes to determine the conditions of the bank's agreement with the user about using  the electronic means of payment  -  it will be not allowed to fix in such agreements conditions about the absolute responsibility of the client/user of the electronic means of payment for the wrong translation, except if it is proved that the act or user inactivity (f.e.delayed information to the bank about lost card!) led to the loss of electronic means of payment or  the user disclosed the PIN or other information that allows you to initiate a payment transaction.

Comments and suggestions were made to the draft of the NBU till 18 July 2016. However, NBU missed the timeline of VISA! At what stage and status the project is actually- we will check with the NBU.