Convenient IboxPay terminals, which can be used by citizens of Ukraine to deposit funds to their bank cards and pay for services, will soon be available in all shopping malls all around Warsaw. This information was revealed by the Chairman of the Supervisory Board of IBOX BANK, Alona Shevtsova, during the FinTech Ukraine 2022 conference.
IboxPay terminals in Poland will provide the same range of services that are currently available in Ukraine. In particular, these convenient terminals can be used to top up cards of the Top 10 Ukrainian banks by the number of issued cards.
“In order to develop the terminal business, we need locations, placement, and proper operation of terminals. We started looking for the most popular places in Poland. Local shopping centers are called “galleries.” We have successfully signed agreements with all those “galleries” in Warsaw.
“According to these agreements, we are allowed to place our terminals and have access to collect cash. As of today, one of our main achievements is the fact that the Top 10 Ukrainian banks by the number of issued cards have contacted us to enter into agreements to top up their Ukrainian cards in Warsaw by using the internal remuneration system of IBOX BANK. In other words, we are becoming a true logistics hub and a “transnational corridor” of funds between Poland and Ukraine.
“We became the key to the door, which all Ukrainian banks knocked on. They have continuously asked their Polish partners to give them an opportunity to top up accounts of Ukrainian banks from abroad by people, who were forced to leave Ukraine. Our truly accidental and unplanned decision has become the key to solving all problems of all issuing banks in Ukraine and allowed us to top up their accounts from abroad.
In Poland, and in Warsaw, in particular, we will offer the same range of merchants, which are currently represented in our terminals in Ukraine. We are talking about more than 1,000 exclusive contracts with unique conditions for IBOX BANK in accordance with the internal remuneration system,” Alona Shevtsova said.
You can top up your Ukrainian card with zlotys, while Ukrainian hryvnia will be credited to the account. The conversion will be made in accordance with the zloty-hryvnia card rate of the issuing bank.
Currently, IBOX BANK transactional bank is working on launching a P2P transfer feature in Europe.
IBOX BANK is a Ukrainian transactional bank operating in the financial market since 1993. By the end of 2021, the bank recorded a fivefold increase in revenue. The bank’s shareholders invested the entire income in the bank’s capital. Since February 28, 2022, the authorised capital of the financial institution has increased by half a billion hryvnia.
According to the National Bank of Ukraine, IBOX BANK entered the top ten most profitable banks in Ukraine following the results of 3 quarters.
In August 2022, the Rating Committee of Expert-Rating RA updated the long-term credit rating of IBOX BANK to the highest level of uaAAA on the national scale.