UkrPay™ — Efficient Mechanisms for Electronic Funds Transfer

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Profile of a Customer

Bank — any banking institution, which provides its customers with a possibility to obtain services through the System.

Provider of Services — any operator, which provides any services for its customers on a regular basis: telecommunication services, public services/utilities, cable TV services, services connected with accumulation insurance, etc.

Service — any service, which may be provided to a Customer/activated for a Customer remotely and which lets exclude process of mechanical delivery of a Service to a Customer after the payment.

Acquiring Network — a network of points of sale, which is equipped with special terminals for making payments for the Services. Such terminals may acquire any payments, for which such terminal is intended and designed (automatic teller machines, point-of-sale terminals, etc.) — money in cash, banking plastic cards, etc.

Customer — a private person, who obtains services through the System.


Goals of the Project

  • utilization of combination of technical solutions for comprehensive organization of, support to, and management of the business processes, which are connected with access to, provision with, and payments for the Services;
  • establishment of contractual relations with Providers of Services, Banks, processing centers, etc., with simultaneous conclusion of agreements concerning all essential conditions (legal, administrative, financial, technological, and other conditions) for operation of the System; organization of a "closed cycle" for the process of access to, provision with, and payments for the Services;
  • access to, provision with, and payments for vouchers and checks in suitable forms and in usual places of payments; organization of new possibilities for access to, provision with, and payments for the Services;
  • collection of payments and organization of settlements between participants of the System through a clearing bank;
  • information servicing of all participants of the process in a real-time mode.


The System and the relevant technology are to be "superimposed" onto the already existing networks for acceptance of payments. In these cases, technology would let to obtain access, provide vouchers and checks, as well as accept payments through all and any existing terminals (including point-of-sale (POS) terminals, mobile (GSM) terminals, computer (IP) terminals, automatic teller machines) and in any forms, namely: money in cash, banking plastic cards, through a banking settlement account, etc. The technology, which is proposed for this System, is designed in order to ensure a step-by-step and suitable (for a Customer) method of transfer from the existing practice of making payments for the Services to a more suitable and new practice. Any operator will have a possibility both for utilization of the existing technology of provision of the Services with subsequent payments for these Services, and for organization of additional possibilities for access to, provision with, and payments for the Services with the help of electronic facilities. This would result in essential increase of an operator's possibilities connected with: coverage of Customers, increase in volumes of payments which would be collected; as well as decrease in the period of time, which is required for collection of payments. Selection of one or another technology and system for authorization of Customers would vary depending on a personal account number, scratch card, and banking plastic card in the course of transfer to an Operator's special cards (a chip card or a card with magnetic strip).

This solution is based on utilization of network software servers, which are manufactured by P5 Commerce Company; these servers interact with the Oracle database, which is placed on Sun Microsystems servers. The database management system is situated within PrioCom's technological premises. Application software developed by P5 Commerce Company interacts with a processing center, thus ensuring a Customer with a possibility to obtain his/her own unique code (electronic voucher) through the terminal networks of the selected Provider of Services. An electronic voucher is a terminal's check with an electronic code. Moreover, the program, which would be installed at a terminal, would make it possible for a Customer to enter his/her personal identification code and then select (with the help of menu of an automatic teller machine) a proper Service, as well as a voucher of necessary kind and nominal value.

If a Customer would pay for vouchers in any banking branches or points of sale, it would be sufficient for him/her to select the most suitable nominal value of any Operator. After making payment for such voucher, he/she would obtain a check, which would contain an access code and brief instructions on procedure of utilization of this check.

If a Customer would make a payment for the Services that were already rendered, it would be sufficient for him/her to identify himself/herself in the System with the help of any of the existing methods in order to obtain a list of checks from all existing Providers of Services and make a decision concerning payments for such checks. The most important function of the System is a possibility for a Customer to prepare his/her own set of rules (a profile) and select the actions, which the System would carry out, when it would obtain non-paid checks (it is even possible to make automatic payments with subsequent sending a notice to a Customer in the form of SMS-message, electronic mail message, etc.).



As of the result of implementation of this Project, a System was developed for electronic sending and payment of checks. The System is a combination of software products and technical solutions that were designed for provision Customers with the access to prepaid (vouchers) and after-paid (checks) Services through the network of terminals.

To date, P5 Commerce Company has partner relations with the following banking institutions: Aval Join-Stock Postal and Pension Bank, Ukrsotsbank JSCB, Praveks-Bank JSCB, First Ukrainian International Bank (FUIB), Ukreximbank Open Joint-Stock Company, Donbirzhbank JSCB, Creditprombank JSB, Ukrinbank JSB, Nationalniy Credit JSB, Mriya-Bank JSCB, as well as "EBRZ" JSB.

The following acquiring networks are now in operation: Ukrposhta (Ukrainian State-owned Mail Service Enterprise), Focus Joint-Venture Enterprise, Fenomen Ltd., DTs Ukraina Ltd.

Services which are rendered by UMC, KyivStar GSM, Golden Telecom, Utel, Ukrtelecom, P5 Ltd., VoliaKabel, Unitel Joint-Venture Enterprise, and IP Telecom Ltd. are now provided through the System. 

In the course of implementation of the Project, Providers of Services have obtained a possibility to accelerate turnover of their financial resources, decrease volume of accounts receivable and costs for processing and storage of calculated data, financial and payment documents, as well as get rid of the costs connected with delivery of checks. A sharply defined marketing policy was proposed for them; this has resulted in strengthening of their competitiveness, as well as in possibility of implementation of new services, new tariff models, progressive and economically efficient methods of payment, collection, and processing of payments. 

As concerns prepaid services, implementation of the Project has resulted in "superimposition" of new technology onto the existing networks intended for collection of cash and non-cash payments from the points of sale, which are situated in 648 cities, towns and villages of Ukraine. 

As concerns after-paid services, the System of electronic sending and payments of checks is capable to perform the following functions:

  • building, implementation, and maintenance of the System; any necessary actions for all participants of the process are performed by a single Company (which has developed and build the System);
  • provision of Customers with references and other information;
  • the Company, which has developed and build the System, keeps business accounting, generates accounting and other documents, finds solutions for substandard situations;
  • management of and support to the telecommunication infrastructure;
  • management of the entire set of equipment designed for preparation and  payment of checks.
PrioCom Corp. tel.+1(415) 398-8200, 100 Pine Street, Suite 300, San Francisco, CA 94111, USA
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