Ihor Bokii, 4bill and SettlePay payment services rep, is determined to actively develop and scale their business, despite the hardships of 2023.
He says the previous year was a breaking point for the financial system and payment services in the market.
In spite of everything, both companies have succeeded in expansion and scaling of their operations, introduction of new services for their clientele. Thus, SettlePay UAB obtained European license in the field of cryptocurrency operations. As a result, a variety of payment methods and new tariffs for fiat operations are now on offer, same as lucrative partnerships with the leading crypto merchants.
“This license will make up for effective interactions between SettlePay and EU-licensed businesses, including those in the high-risk fields”, claims Ihor Bokii.
In early December of 2023, SettlePay Wallet payment system users were treated to some good news: their crypto wallet was partnered with STICPAY, world’s leading e-wallet. According to Mr. Bokii, this is a mutually beneficial partnership.
“This integration makes up for STICPAY clients utilizing our wallet’s distinctive feature – crypto cashout; at the same time, SettlePay Wallet users can have more options of fiat operations (issuance of a virtual card, international transfers etc.)”, says 4bill and SettlePay rep.
Ihor Bokii also added that 4bill deems necessary the development and provision of innovative payment solutions to Ukrainian enterprises. 4bSecure is one such solution.
“This particular service is designed to assist microcredit institutions and businesses that require payment card holders’ verification. 4bSecure is operated via API-interface, securing two types of verification requests from issuing banks, while no confidential information is transmitted from the bank”, says Ihor Bokii.
Mr. Bokii claims the first request type helps establish the percentile probability of the card ownership. The second request type, carried out via BankID, secures 100% accuracy of assessment upon the preliminary approval on client’s behalf.
The procedure helps drastically lower the chances of fraudulent loan transactions, and make credit operations more secure.
“Use of 4bSecure will facilitate the decline in problematic loans, thus raising the efficiency and reliability bar for credit operations and financial transactions in Ukrainian market”, claims 4bill spokesman.
Ihor Bokii’s business strategy is based on development of unique features and payment methods for crypto-fiat transactions, reserving the option of upscaling the operation across international markets.
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