# SEP 4.1 QR

> Source: https://docs.barcoder.ai/docs/standards/sep-4-1-qr
> research date 2026-05-29 · extracted at 2026-10-06
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [SEP 4.1 instant transfers launched — NBU](https://bank.gov.ua/en/news/all/z-01-grudnya-2024-roku-v-ukrayini-zapratsyuvala-nova-versiya-sep-z-funktsionalnistyu-mittyevih-perekaziv)
- [Instant Payments — NBU](https://bank.gov.ua/en/payments/ips)

## Overview

**SEP 4.1** is **Ukraine's new-generation System of Electronic Payments with instant-transfers functionality**, launched **1 December 2024 by the National Bank of Ukraine (NBU)** <sup>[1][1], [2][2], [Ukraine report](https://docs.barcoder.ai/docs/payments/UA)</sup>. SEP (Система електронних платежів — System of Electronic Payments) is Ukraine's foundational interbank-payment infrastructure; SEP 4.1 represents a major upgrade adding **24/7 instant-transfer capability + QR-code + Deeplink payment initiation**. **PrivatBank was the first bank to adopt the instant-transfer feature** — leveraging its position as Ukraine's largest commercial bank.

The structural context is critical: **SEP 4.1 launched during Ukraine's ongoing war with Russia** (since 24 February 2022 full-scale invasion). The NBU's payment-system modernisation during wartime is **structurally remarkable** — illustrating Ukrainian institutional resilience. By **March 2025, 20 direct participants connected to SEP instant-transfer** including NBU + 19 banks. **December 2024 alone**: 11,500 instant payments; **first 2 months of 2025**: 55,200 payments totaling **UAH 543 million**. **Goal: all systemic banks to implement instant-transfer in first half 2025**. The European Payments Council has documented "Payments in wartime: the story of the National Bank of Ukraine" — recognising the structural significance of Ukraine maintaining + modernising payment infrastructure through active war. SEP 4.1 represents **one of the most consequential national-payment-system launches in any wartime context globally**.

## History

**Background — Ukrainian payment landscape pre-war** <sup>[Ukraine report](https://docs.barcoder.ai/docs/payments/UA)</sup>:
- **National Bank of Ukraine (NBU)** — central bank.
- **SEP (System of Electronic Payments)** — foundational interbank infrastructure (since 1990s).
- **PrivatBank** — Ukraine's largest commercial bank (nationalised 2016).

**24 February 2022 — Russia's full-scale invasion** [[epc]]:
- Wartime context.

**Ukraine maintains + modernises payment infrastructure through war** [[epc]]:
- NBU continues payment-system development.
- Structural resilience.

**1 December 2024 — SEP 4.1 launches with instant-transfer functionality** <sup>[1][1]</sup>:
- New SEP version goes live.
- 24/7 instant-transfer capability.
- QR-code + Deeplink payment initiation.

**PrivatBank first bank to adopt** <sup>[2][2]</sup>:
- Leverages largest-bank position.

**December 2024 — 11.5K instant payments** <sup>[2][2]</sup>:
- Initial month volume.

**January-February 2025 — 55.2K payments / UAH 543M** <sup>[2][2]</sup>:
- Rapid early growth.

**March 19, 2025 — 20 direct participants (NBU + 19 banks)** <sup>[2][2]</sup>:
- Bank-network expansion.

**H1 2025 goal — all systemic banks to implement** <sup>[2][2]</sup>:
- NBU expansion plan.

## Technical specification

SEP 4.1 is **NBU-operated next-generation Ukrainian electronic payment system with instant-transfer + QR** <sup>[1][1], [2][2]</sup>:

| Layer | Description |
|---|---|
| **Operator** | **National Bank of Ukraine (NBU)** |
| **System name** | **SEP 4.1** (System of Electronic Payments 4.1) |
| **Launch** | **1 December 2024** |
| **Currency** | UAH (Ukrainian hryvnia) |
| **Availability** | **24/7** |
| **Payment initiation** | QR codes + Deeplink |
| **First adopter** | **PrivatBank** |
| **March 2025 participants** | 20 (NBU + 19 banks) |
| **Wartime context** | Maintained + modernised through war |

**QR + Deeplink** <sup>[1][1]</sup>:
- Convenient payment-detail transfer between users.

## Use cases

**Instant cross-bank transfers (24/7)** <sup>[1][1]</sup>: Cardinal use.

**Merchant QR payments** [PrivatBank + Privat24 (Ukraine)](https://docs.barcoder.ai/docs/wallets/privatbank): Via PrivatBank QR for merchants.

**Acquiring services for businesses** [[privatbank-acq]]: PrivatBank acquiring.

**Government services + tax payments** <sup>[Ukraine report](https://docs.barcoder.ai/docs/payments/UA)</sup>: NBU-coordinated.

**War-context economic continuity** [[epc]]: Critical infrastructure during war.

## Implementations & ecosystem

**Operator**: **NBU**.

**First adopter**: **PrivatBank**.

**March 2025 participants (20)**: NBU + 19 commercial banks including PrivatBank, Oschadbank, Ukreximbank, Raiffeisen Bank Aval, UkrSibbank, others.

**Companion**: PrivatBank QR for merchants.

## Fun facts

- **Launched during war**: 1 December 2024 — Ukraine's ongoing war since 24 February 2022.
- **NBU + EPC documented wartime resilience**: "Payments in wartime: the story of the National Bank of Ukraine".
- **PrivatBank first adopter**: Ukraine's largest bank pioneering.
- **24/7 instant**: Modern standard.
- **QR codes + Deeplink**: Convenient cross-user payment-detail transfer.
- **11.5K → 55.2K transactions in 2 months**: Rapid early growth.
- **20 participants by March 2025**: Substantial early bank-network.
- **NBU + 19 banks**: Comprehensive Ukrainian banking-sector participation.

## Comparison

| Feature | SEP 4.1 (UA) | [MIA QR](https://docs.barcoder.ai/docs/standards/mia-qr) (MD) | [RoPay](https://docs.barcoder.ai/docs/standards/ropay) (RO) | [Blink](https://docs.barcoder.ai/docs/standards/blink) (BG) | [NBS IPS QR](https://docs.barcoder.ai/docs/standards/nbs-ips-qr) (RS) |
|---|---|---|---|---|---|
| Operator | NBU (central bank) | NBM (central bank) | Transfond (bank consortium) | BORICA AD | NBS (central bank) |
| Launch | **1 Dec 2024** | Mar 2024 | Nov 2024 | 2021 | 22 Oct 2018 |
| Currency | UAH | MDL | RON | BGN (+EUR TIPS) | RSD |
| 24/7 | Yes | Yes (24/7/365) | <10s | <10s | <10s |
| QR | Yes (+ Deeplink) | 3 QR types | EPC reference | Mobile Lookup + QR | Standardised NBS IPS QR |
| Context | **Wartime** | EU-adjacent | EU member | EU member | Balkan |

## Status

**Active, growing rapidly during war** <sup>[1][1], [2][2]</sup>:
- **NBU operator** since 1 December 2024.
- **20 participants** (March 2025; NBU + 19 banks).
- **PrivatBank first adopter**.
- **QR + Deeplink + 24/7 instant**.
- **H1 2025 goal**: All systemic banks.

## Sources

[1]: https://bank.gov.ua/en/news/all/z-01-grudnya-2024-roku-v-ukrayini-zapratsyuvala-nova-versiya-sep-z-funktsionalnistyu-mittyevih-perekaziv "SEP 4.1 instant transfers launched"
[2]: https://baltimorechronicle.com/finansy/2025/03/21/all-systemic-banks-to-launch-instant-transfers-in-the-first-half-of-2025-nbu/ "All systemic banks instant transfer H1 2025 — Baltimore Chronicle"
[epc]: https://www.europeanpaymentscouncil.eu/news-insights/insight/payments-wartime-story-national-bank-ukraine "Payments in wartime — NBU story — EPC"
[privatbank]: https://privatbank.ua/en/qr "PrivatBank QR payment"
[privatbank-acq]: https://privatbank.ua/en/business/ekvairynh "PrivatBank acquiring"

- [1] [SEP 4.1 instant transfers launched — NBU][1]
- [2] [Systemic banks instant transfer — Baltimore Chronicle][2]
- [epc] [Payments in wartime — EPC][epc]
- <sup>[Ukraine report](https://docs.barcoder.ai/docs/payments/UA)</sup> `reports/countries/UA-ukraine.md`

## Deployments

Found in the following country reports (grep across `reports/countries/`):

- **UA** — [UA-ukraine.md](https://docs.barcoder.ai/docs/payments/UA)