A new Internet system called the Internet Commerce System was introduced at a recent seminar on the Internet in Banking and Trade which took place in Kyiv. This project was developed by the INT international center for information technologies supported by the National Bank of Ukraine and several other Ukrainian commercial banks.
The project includes development and launching structural components of the ICS in Ukraine. With ICS assistance, Ukrainian customers will be able to purchase goods through the Internet.
The project also creates new opportunities for banks: the number of clients increases, bringing additional income. The system will have round the clock virtual stores and infrastructure, which secure commercial activity on Internet. The client will be able to use credit cards to buy thing, such as VISA and Eurocard/Master Card. Electronic payments will be handled by the Aval bank. The system also stipulates a credit card with a microchip, valid for ICS traders and secured by Aval.
By introducing the system, Ukraine will be able to ascend to a higher level of in the financial services market. Most countries prefer money transfers to cash. Experts estimate Internet trade volume at $2.5 billion. It would be no mistake to say that the Internet offers unlimited opportunities for commercial activity.






