PrivatBank Partners with InComm to launch prepaid products in Ukraine

DNEPROPETROVSK, Ukraine, Aug. 18, 2016 /PRNewswire/ -- PrivatBank announced today it has partnered with InComm, a leading prepaid product and transaction services company, to launch prepaid products to its customers in Ukraine. The strategic partnership between the two companies will afford Ukrainian customers the opportunity to purchase prepaid codes and immediately top up their or anyone else's account without incurring any additional fees.

"Together with InComm, we are opening the opportunity to the more than 45 million Ukrainians to use one of the world's most popular services," said Olga Khudik, Head of PrivatBank e-Commerce department. "The purchase of the prepaid codes through PrivatBank guarantees the payment security and authenticity of the codes for our customers."

Today, PrivatBank customers can purchase prepaid codes through the web version of Privat24. The purchase of prepaid codes through the PrivatBank mobile application will be available in August 2016. Account funds can be used to add credit to video chat and voice call applications. The two companies plan to expand the product line in the future.

"We are pleased to have taken the first step in our strategic partnership with PrivatBank to supply prepaid codes to their customers in Ukraine," said Frank Monaco, Executive Vice President and General Manager, InComm International. "In conjunction with our product partners and PrivatBank, we are pleased to work together to achieve a successful and exciting launch."

About PrivatBank

PrivatBank is the leader of the Ukrainian market and one of the eight largest banks in Eastern Europe. PrivatBank provides services for more than 25 million clients. According to GFK Ukraine research of banking services for individuals, as of the end of 4Q2015, 48.4% of customers of Ukrainian banks used PrivatBank services and more than every third Ukrainian (39.3% of respondents) considered PrivatBank as their main bank. At the moment, over 10 million customers use PrivatBank's online banking platform, Privat24; and over 5.5 million clients use its mobile version.

About InComm

Leveraging deep integrations into retailers' point-of-sale systems, InComm provides connectivity to a variety of service providers that allow consumers to conduct everyday business at more than 500,000 points of retail distribution. Whether those consumers are activating prepaid products, paying bills, enjoying real-time discounts through a membership card, purchasing digital goods in-store or adding funds to an online account, InComm is there to provide unique gift-gifting opportunities, cater to on-the-go shoppers, deliver added value through loyalty programs and serve cash-based consumers. With 206 global patents, InComm is headquartered in Atlanta with a presence in 31 countries. Learn more at www.incomm.com.

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SOURCE InComm

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