Privatbank recently announced that the number of downloads for its payment application on Android devices had exceeded one million units, marking a Ukrainian record.
Deputy Chairman of Privat Alexander Vityaz said that convenient mobile banking has become as mandatory for smartphones as a camera or calendar. Vityaz said the company is confident that the Privat24 program will be installed on every Ukrainian smartphone by the end of 2014.
As of Dec. 30, an estimated that 4.7 million people use Privat24's online banking system in the Ukraine. Every day, the system makes 650,000 transactions with an average transaction size of $48.50.
The payment application can be downloaded to smartphones or tablet devices for free and offers customers the opportunity to access bank accounts and manage them in real time. Customers can make contact-less payments and cash withdrawals from ATMs using a QR-code. Using the application, they can also view account statement, adjust the regularity of payments, top-up mobile phones, manage loans, and purchase bus, railway and air travel tickets.
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