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British fintech startup Elpaso launches services for Ukrainian businesses

Source: ELPASO

ELECTRONIC PAYMENT SOLUTIONS LTD (Great Britain) has announced the launch of a service for Ukrainian entrepreneurs and companies that provide services and trade in the markets of Europe, Asia and North America.

Clients of the service are developers, designers, marketers, digital specialists, online merchants, lessors of tourist housing, and Ukrainian owners of foreign companies with registration in more than 40 countries.

ELPASO users can remotely open euro accounts with individual IBANs and immediately receive payments from their clients from all over the world, make SEPA and SWIFT payments in more than 20 currencies, and also transfer their funds to cards issued by Ukrainian banks.

With ELPASO, any business can quickly and easily solve the problem with access to banking services in the EU.

«The service is in high demand because it simplifies opening and usage of a payment account for entrepreneurs a lot. Numerous verifications and other bureaucratic procedures can last for months when you try to open an account with a traditional European bank. Needless to say that we use remote verification methods. It starts with an application on the ELPASO website that allows you submitting all relevant data and documents remotely and let us efficiently and securely perform our checks. It is convenient and safe, especially in the current pandemic circumstances».
Sergey Baymakov

In July 2020 we plan several major releases for ELPASO customers: mobile application, Internet acquiring for online business, bulk payments to cards issued by Ukrainian banks to individuals and entrepreneurs, and customer support in Ukraine.

«Recently, we have received the status of a principal member of the Mastercard payment system. In November-December, we will begin to issue business cards and debit cards to private individuals. This means that any Ukrainian will be able to remotely open a personal account abroad».
Yaroslav Smakota
ELPASO, Co-Founder

In 2019, ELPASO (elpaso.co.uk) received EMI (Electronic Money Institution) authorisation from the British financial regulator. The first customers were companies from the European Union and Asia. The startup's headquarters is located in Brighton (UK), with R&D provided by IT company Finik.Pro in Ukraine.

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