mPay expands beyond Poland. The application will be used by citizens of Ukraine

mPay and MTB Bank signed a letter of intent to conclude an agreement to subscribe for a new issue of mPay shares and business cooperation, thanks to which Polish company will join to the payment system MTB Moneyenabling international transactions.

According to the agreement, after final negotiations, i.e. by June 30, 2024, MTB Bank will receive 9.99% of mPay shareswhich will provide the company with additional capital for the development of fintech services and facilitate foreign expansion.

As mPay emphasizes, cooperation will allow for: development of new cross-border products and financial services between Poland and Ukraine, and then among other European countries. The investment will therefore also be a step towards deeper economic integration between Ukraine and the European Union. mPay will join international payment system MTB Money and will also be entered into the register of the National Bank of Ukraine.

mPay in Ukraine: what will new customers gain?

Thanks to MTB's investment in mPay, Ukrainian citizens living or working in Poland, as well as in other European Union countries, will gain access to financial services, including: down transfer of funds to an individual account banking and the possibility of making transfers to Ukraine.

MTB Bank based in Odessa is a commercial bank licensed and supervised by the National Bank of Ukraine. It is a member of international payment organizations Visa, Mastercard, UnionPay and develops the MTB Money International Payment System to expand money transfer services in Europe.