Ukraine's PrivatBank connects to UnionPay International payment system

Ukraine's largest state-owned PrivatBank says cardholders of UnionPay International, one of the world's major payment systems, can now use their cards in PrivatBank's network of ATMs and payment terminals across Ukraine.

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"From December 3, UnionPay cardholders will be able to pay with them at hotels, restaurants and shops in Kyiv, Kharkiv, Odesa, Dnipro and other cities. UnionPay cards can also be used to withdraw cash at PrivatBank ATMs across the country," PrivatBank's press service said on December 4.

The bank emphasized that the entry into the domestic market of a new leading international partner also means new opportunities for the Ukrainian banking sector in the context of integration into the global financial system.

Serving UnionPay International payment cards at ATMs and payment terminals is the first stage of PrivatBank's cooperation with UnionPay. The bank and UnionPay plan to develop joint innovative payment products that will help upgrade the Ukrainian payment industry.

Ukraine has become the 178th country where the UnionPay card service is being developed, the report said.

UNIAN memo. Dnipro-based PrivatBank has been operating in Ukraine since 1992. It is Ukraine's No. 1 bank in terms of assets. The bank has been owned by the state since December 2016.

UnionPay International (UPI) is a subsidiary of China UnionPay. In partnership with more than 2,000 institutions worldwide, UnionPay International has enabled card acceptance in 178 countries and regions with issuance in 58 countries and regions.