Paysera Partners with Globus Bank to Offer Cash Pickup Transfer Service for Ukrainians

Lithuania-based fintech Paysera has partnered with Globus Bank to enable Ukrainians to pick up transferred money in cash at the latter's locations.

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​According to the World Bank, Ukrainians received transfers worth EUR 17 billion from abroad in 2021. In 2022, due to the humanitarian and economic crisis caused by the Russian invasion, the World Bank predicts that transfers to Ukraine will grow by a further 20% and reach new highs.

Gintautas Mezetis, CEO of Paysera, commented: "Transferring money to a bank account is not always convenient and sometimes impossible. For one thing, four out of 10 Ukrainians do not have an account. Secondly, a standard money transfer from the EU to a bank in Ukraine may take up to two business days, with correspondent banks charging an additional fee of 10 to 20 EUR. This sometimes makes cash pickup transfers the only option – money reaches the recipient in minutes, and it's cheaper than a standard transfer."

According to Deputy Chairman of the Globus Bank Board, Anna Dovgalskaya, the collaboration between both entities promises to be highly productive, with a "strong team, many years of experience in the field of money transfers, and a focus on customer needs" being the leading factors in the relationship.