Europay International said it has worked with two banks to introduce the first payment cards in Ukraine.

Bank Ukraina announced a Eurocard-MasterCard service in mid-September and said it was considering Europay's electronic debit services. The bank is Ukraine's largest, with 800 branches.

Europay's other Ukrainian participant is Perkombank.

The Belgium-based association, an affiliate of MasterCard International, said it expects other financial institutions to join the global credit card network.

"As more banks begin to recognize the benefits of international payment card services, competition will develop quickly," said Ukrainian Central Bank Governor Victor Uschenko. "I welcome this kind of competitiveness, as it leads to market expansion and is beneficial to consumers."

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