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Joompay Offers Free Instant European Payment Accounts to Ukrainian Refugees

Joompay, a fintech service for daily financial  transactions in Europe, has developed a solution for all Ukrainian refugees who need a European payment account compatible with their current refugee status.

Since the Russian invasion of Ukraine, millions of Ukrainians have been forced to leave their country. Most of these refugees are now residing in various countries  of the European Union, where they face new challenges and need to adapt to new  requirements and procedures in order to settle into their new environment.

Joompay has assessed all the potential problems that people might face in this situation, such as the lack of European documents or unfamiliar foreign languages.  As a result and in response to the refugee crisis Joompay is offering Ukrainian refugees the opportunity to open a payment account, in-line with the EU Temporary Protection Directive, which is intended to simplify the account opening process. The only document required is a Ukrainian passport or Ukrainian ID card. The entire sign-up process takes less than 5 minutes, and the Joompay support team is available to provide assistance in the Ukrainian language. This is absolutely free of charge because Joompay waives all fees. 

This means that in a few clicks Ukrainian refugees can get a VISA card with Apple Pay/Google Pay, but more importantly, to obtain a virtual “IBAN” in order to receive money from any sender on the territory of the EU.

Alex Gutman, Head of Joompay Technologies, commented on the arrangement, saying: "We are using all our resources and technologies to help people in need. Needless to say that we do not take any commissions for what we are doing. We will share this information with our Joompay users and ask them to actively spread the message about European accounts for refugees. We are also looking for additional channels to reach volunteers and all organizations involved in refugee relief. In this respect the press and other media channels can assist in this important initiative."

This solution was made possible through the active involvement of Veriff, a global  identity verification company.

Kaarel Kotkas, CEO and founder of Veriff: "We are donating 1 million verifications to organizations who wish to use these to help people affected by the conflict, such as money transfer services to Ukraine, accommodation or relocation services for refugees. We've invested additional resources and are waiving the fees for organizations like Joompay to support the people of Ukraine to make sure they have access to vital services like money transfers amidst the crisis,” said Kotkas.

About Joompay:

Joompay is a fintech service for daily financial transactions in Europe founded in 2019 in Luxemburg. Joompay’s mission is to help people to control their expenses and save money. 

Joompay is one of the key businesses of Joom, an international group of e-commerce and fintech companies that was founded in 2016 in Riga, Latvia. 

More information about Free European account for Ukrainian refugees: https://joompay.com/ukraine 

 About Veriff: 

Veriff is a global online identity verification company that enables organizations to build trust with their customers through intelligent, accurate, and automated online IDV.  The largest document specimen database on the market, Veriff’s intelligent decision engine analyzes thousands of technological and behavioral variables in seconds, matching people to more than 10,000 government-issued IDs from over 190 countries. Founded in 2015, Veriff serves a global portfolio of organizations across fintech, crypto, and mobility sectors. Veriff’s latest $100 million investment round brings its total funding to $200M and its valuation to $1.5B. Veriff’s investors include Tiger Capital, Alkeon, IVP,  Accel, Mosaic Ventures, Y Combinator,  Nordic Ninja and others. With teams in the U.S., UK, Spain and Estonia, Veriff employs over 400 people from 50 different nationalities. 

For more information please contact us at pr@joom.com.