PrivatBank and Payoneer have launched integration in the Privat24 app. What opportunities does this offer?

From now on, PrivatBank and Payoneer customers will be able to use new features in Privat24 to quickly receive funds from Payoneer directly in the app (mobile and web). This was reported by the press service of the Ukrainian State Bank.

How is this useful?

As explained in the bank, the integration of Payoneer in Privat24 gives users new opportunities that allegedly do not exist in other financial institutions, namely::

user registration via Privat24, authorization in the Payoneer service from the banking application, linking an existing account and viewing the history of debit transactions through PrivatBank;withdrawal of funds from Payoneer to cards and accounts of individuals and sole proprietors. Crediting funds around the clock in online mode for individuals and in the mode from 8:00 to 20:00 on working days for sole proprietors;the ability to open virtual/internet cards in the process of withdrawing funds, instant receipt of bank details on balances in USD and EUR for accepting payments for services rendered;favorable conversion rate to UAH and no commissions of correspondent banks for SWIFT payments from Payoneer. Who might need it

According to PrivatBank, today it serves more than 120 thousand accounts of IT entrepreneurs. At the same time, they have a special IT expert tariff with free opening and preferential terms for servicing accounts, free payments to the budget, paying taxes, currency exchange, and transferring funds from the sole proprietor's account to the payment card.

Privat also issues Gold and Premium class cards for IT entrepreneurs for free and has implemented a special support line — <url>.

As you know, Payoneer is a global partner in the field of digital commerce. Since 2005, the company has been inventing and creating a global ecosystem. Its clients range from aspiring entrepreneurs in emerging markets to the world's leading digital brands such as Airbnb, Amazon, Google, Upwork, and Walmart.

Earlier it became known that PrivatBank transferred its data centers from Kiev and Dnipro to the territory of the European Union. More than 460 IT specialists and contractors worked on this project, which took them less than 45 days.