PrivatBank Payment System

Alongside with providing basic banking services, PrivatBank can help to organise your online business by dealing with online payments on your website.

One of its most popular and widely used technologies is LiqPay. LiqPay is a specially designed payment platform that allows sending money from your credit card to a virtual account in the LiqPay system linked to a mobile phone number.

To work with LiqPay, you simply need a VISA or MASTERCARD that has no transaction restrictions emitted by any bank. Therefore, this system combines advantages of Visa Money Transfer technology and convenience of Internet and mobile channels.

LiqPay is very flexible. It can be used as a virtual checkout or for individual money transfer. The recipient doesn't even need to be registered in the system; they will simply receive a text message offering to proceed to a LiqPay site in order to get their money. The mobile phone number is used as a customer ID.

Here's how it works for websites, where "E-Commerce Cash" service is used:

• After selecting a product or a service, the customer clicks "Pay cash" and submits their mobile phone number.
• The account is registered in their name.
• In the terminal, the customer only needs to type in their phone number to access the menu with all their accounts. The next step is selecting the required account and entering the required amount of money.
• The recipient receives the money within just half an hour after the payment has been made.

OTP (One-time Password) technology ensures the highest level of security. The system has been certified by GoDaddy Secure Web Site, Verified by Visa and MasterCard SecureCode.

Despite the fact that PrivatBank is based in Ukraine, LiqPay can work with literally all mobile operators worldiwe. Available currencies are US dollar, Euro, Russian rouble and Ukranian hryvna. The range of currencies will be extended in the near future.

As for transaction fees, transaction from phone to card currently costs 1,95$ + 1% (*please note that the commissions and fees may change). Incoming money transactions and operations within the system are free.