Rozetka has received a license from the NBU to open accounts for buyers and sellers — what will change in the marketplace?

The National Bank has issued a permit to open accounts for individuals and legal entities to RozetkaPay — a payment service operating in the Rozetka ecosystem.

• Online retailer Rozetka was founded in 2005 by Vladislav and Iryna Chechotkin, and later a fund managed by Horizon Capital became a co-owner of the company. Today, the company has transformed into a multi-category online marketplace and is developing a network of offline stores — there are currently more than 500 in 150 cities of UkraineThe RozetkaPay service was launched in 2020 (and it is one of the signatories to the memorandum of reducing card transfer limits).

According to the company’s release (via Forbes Ukraine), the NBU license will allow us to introduce new features for the service. At the first stage, only users of the service «Payment by installments», and «soon» — and entrepreneurs who sell goods in the Rozetka online store will be able to open accounts.

What will this bring to account holders? The company says that it offers a more convenient way to pay for orders, the ability to participate in the RozetkaPay loyalty program, support P2P transfers and other financial transactions.

What is the company’s benefit?

The National Bank’s permission allows RozetkaPay to become a licensed financial player in the e-commerce market and offer an alternative to traditional banking services (similar initiatives are being successfully introduced by international companies, such as Amazon Pay and Apple Card).