Mastercard launched a cash withdrawal service at retail cash desks in Ukraine
Source：retailers
From：Taiwan Trade Center, Kyiv
Update Time：2019/10/21
The international payment system Mastercard has launched a pilot project together with PrivatBank and the WOG filling station network - a service that allows you to withdraw cash from a card at a cash register of retail outlets through POS-terminals. You can withdraw money only in case of purchase of goods. In the future, Mastercard plans to expand the number of partners - both networks and banks. Experts say that the service of cash withdrawals at the box office will not be popular in retail outlets.
Only holders of PrivatBank debit cards (salary, social and student) can withdraw money at the cash desk of a gas station WOG. To withdraw money, the customer must refuel the product and pay for it with a card. At the time of payment, he must tell the cashier that he wants to withdraw cash. The maximum withdrawal amount is UAH 500, according to a press release from Mastercard posted on the official website. The WOG network unites 450 petrol stations all over Ukraine.
“Cash withdrawal at petrol stations cash desks is an additional service to increase customer loyalty. There should not be any queues, since cash withdrawal will take place quickly - this is how to buy coffee,” says WOG’s PR manager for the petrol station network Elena Osipchuk. She added that there will be no commission for withdrawing cash.
PrivatBank and Mastercard note that this service is common in Europe. “A purchase with cash disbursement is a service that residents of most European countries use, and now Ukrainians use it,” quoted in a press release the words of Yevgeny Vasiltsov, head of the PrivatBank trading department. However, experts note that this is not entirely true. “It is found, but not often, in Australia, the USA and India. Money can be taken at gas stations and in supermarkets, but small amounts,” says Maxim Kozenko, a service provider at Fondy payment provider. According to the independent expert of the retail market, the ex-CEO of multichannel retail "Hello" Valery Zolotukhin, this service is not common abroad, since there most of the calculations are carried out by cards. “This is more of a Ukrainian scenario, since in our country everything is exactly the opposite,” he specifies.
According to the National Bank, in 2017 the volume of transactions using payment cards amounted to 2.13 trillion UAH, of which non-cash payments accounted for 835 billion UAH
Mastercard plans to connect new partners to the service so that the cash withdrawal service at the cash desks becomes available to cardholders of different banks and so that it can be used at all key points of the sales and service networks. According to market participants, Fozzy Group plans to launch this service.
For businesses, connecting such a service can be profitable, experts say. "Firstly, it is an opportunity to save on collection (at least, on the procedure and staff, and not necessarily on the bank / company commission for collection). Secondly, you can take a commission from the recipient of funds. To bargain at the commission rate for acquiring, "- said the director of the Ukrainian Interbank Association of members of the EMA payment systems, Alexander Karpov. In Fondy, they give an example that in the USA in the Walmart network, two commissions are taken for cash withdrawals at the store's cash desks - the bank and the retailer. "The latter takes $ 3 for each operation," - clarified in Fondy.
For banks, this is an opportunity to cover certain regions in which they do not have branches and ATMs, says Maxim Kozenko. “By connecting to the service, the bank can develop its infrastructure without additional expenses for the installation of ATMs and their collection,” Kozenko adds.
Obviously, the cash withdrawal service at the gas station's cash desks will not receive wide demand, Valery Zolotukhin predicts. "But, for example, in the offices of" New Mail "- quite, that is, the service will be in demand at points where there is movement of goods," - adds the expert. The network WOG expect the demand for services. “This is an innovative project for us, and we are convinced that the new service will be in demand in Ukraine,” Olga Kapustina, marketing director at WOG, said in a press release.
Source：https://retailers.ua