Same Day Bank Deposits in Ukraine

Transpay, a B2B/B2P cross-border payments platform, announced the expansion of its local bank transfer network to Ukraine through a partnership with the country’s largest commercial bank, PrivatBank.

Since 2012, Transpay's platform and proprietary bank network has enabled businesses to send rapid, mass payouts to recipients and businesses in more than 120 countries and 60+ currencies. Now, with the availability of Ukraine, Transpay’s business clients have a cost-effective payment method to send funds same-day, directly into PrivatBank’s 17 million account holders.  

“We welcome this partnership with Transpay that allows us to provide deposits from around the world to our customers,” says Maria Strashko, Head of Cross-Border Payments. “As Ukraine becomes a larger part of the global digital economy, we look forward to more possibilities and opportunities with this partnership.”

According to market research from GFK, 49% of Ukrainian depositors entrust their savings to PrivatBank and PrivatBank’s vast footprint includes 2,500 branches, 7,500 ATMs and 12,200 self-service kiosks.

The need for same-day payments to Ukraine continues to grow as the country has become a hub of freelance talent. Specializing in software development, e-commerce and IT, Ukraine’s tech industry is worth about $5 billion and Ukrainian freelancers earned $61m in 2014, according to Upwork.

“As businesses and marketplaces tap into Ukraine’s growing freelance and tech industry, we are excited to enable payments to Ukraine for our clients and have PrivatBank on board as a partner,” says Nagarajan Rao, SVP of Transpay.


 About Transpay

Transpay, headquartered in New York City, is a B2B/B2P cross-border payments platform with the world's largest, independent payment network worldwide. The company's platform uses robust end-to-end technology to enable instant transfers across our global proprietary network. Funds are delivered in local currency either to a recipient's bank account or a preferred cash pick up locations. Transpay is backed by GCP Capital Partners, a $1.8 billion private equity fund led by top investors in the payments industry. 

Transpay makes the complex global payments landscape user-friendly with secure, fully compliant, easy-to-use solutions. For more information, visit www.transpay.global to request a live demo.

For press or media related inquiries, please email media@transpay.global.

 

Article Categories:
Related articles
Press Releases

Mastercard Advances Cross-Border Capabilities with Acquisition of Transfast

We are pleased to announce that Mastercard is acquiring Transfast, parent company of Transpay.

Proven P2P and B2B Network to Accelerate Scale and Growth
In The News

Fundera: The 8 Best Payment Solutions for Your Business

In The News

The Paypers: Payment Solution Providers' Ecosystem Explained and Global Mapping of Key Players

The Paypers presents a completely updated mapping of the solution providers in the payments space and the salient differences that currently exist between them

In The News

PaymentsSource: The Massive Market for Cross-Border P2P

The market for cross-border person-to-person (P2P) remittances is massive. It experienced double-digit growth in 2018 as consumers migrated from one country to another in...

Subscribe to the latest updates on Newsroom.

Pay by API

Automate Local Bank Transfers Worldwide

Learn More
Pay by Web

Send Local Bank Transfers Online

Learn More
Get Paid

Receive Local Bank Transfers from Your US-Based Clients

Learn More