PrivatBank, Ukraine's largest bank, which serves entrepreneurs and business clients in Ukraine, today announced it has enabled Apple’s Tap to Pay on iPhone contactless payment acceptance technology for its customers across Ukraine.
With the launch of Tap to Pay on iPhone, Privatbank's customers will now be able to accept in-person, contactless payments with just an iPhone and the Terminal iOS app - no need for additional POS terminals or hardware. The feature provides merchants with a simple, secure and private way to accept contactless payments from physical debit and credit cards, Apple Pay and other digital wallets.
"We are delighted to launch Tap to Pay on iPhone for entrepreneurs and businesses in Ukraine and to be providing this simple and secure solution that offers greater flexibility for accepting payments for businesses of all sizes, from street vendors to large retailers," said Gerhard Boesch, Chairman of the Board of PrivatBank. "As a state-owned bank with the largest share of small and medium-sized businesses, we feel a great responsibility to support businesses to scale – and save – with fast, in-person payment solutions.’’
PrivatBank clients can start using Tap to Pay on iPhone in just a few minutes directly in the Terminal iOS app by downloading it from the Apple App Store using an iPhone XS or later. After a simple and straightforward registration procedure, all the merchant needs to do in order to start accepting payments is open the Terminal app on their iPhone, enter the purchase amount and have the customer hold their contactless payment method near the merchant’s iPhone for the payment to be securely completed. Apple’s Tap to Pay on iPhone technology uses the built-in features of iPhone to keep both business and customer data private and secure.
"In a matter of minutes, you will be able to accept contactless payments using only an iPhone. We are confident that this service will be convenient for all types of businesses, from retail stores to hairdressers and food stalls, taxi drivers and market traders," said Yevhen Zaigraiev, PrivatBank's SME Board Member. "Developed by PrivatBank, the Terminal app on iPhone is a comprehensive turnkey solution for businesses that not only allows them to record cash transactions, create and fiscalize checks, and transfer information to the tax authorities, but can now also accept contactless Visa and Mastercard payments.”