P2P payments make up a new price offer (23.02.2015)

"P2P payments make up a new price offer," says Taras Volobuiev, Director for Business Development of Portmone.com

‘In November, 2014, Ukrainian Processing Center announced that Ukrainians were more willing to use cards to pay for products. One of the reasons is strict limits on cash withdrawal set by many banks. However, a positive trend is observed in the segment, as the culture of card payments is gradually adopted in Ukraine.’

‘Today, the leading positions in the money transfer segment are being won over by so-called P2P transfers (from one card to another), and Portmone.com is developing this type of money delivery to the client.’

‘We have launched the service in June, 2013. At first it was used primarily to send money to kids studying in other cities and also to repay loans. Starting from spring 2014, P2P payments have been also applied to help Ukrainian military in the anti-terrorist operation area and to transfer funds between cards issued by different banks by a single owner.’

‘The fastest growth of the service was recorded in the last 4 months of the last year. People have learned how it works and what problems it solves and thus started using it more actively. Therefore, the amount of transactions in the period between June and October of 2014 reached 96.9 mln UAH compared to a significantly low figure of 4.9 mln UAH in the similar period of 2013.’

‘P2P payments make up a new price offer. In fact, they are becoming an equivalent of transferring cash in electronic form, and thus are easily integrated into everyday life of people. I believe in the nearest future they will become ubiquitous.’

Taras Volobuiev