Paynetics, an eMoney institution providing end-to-end payment services across the globe, and Phyre, a contactless payments app, have developed a free mobile payment application for IOS and Android that allows charitable organisations to deliver funds to those displaced as a result of the Russian invasion of Ukraine.
The war in Ukraine has created an unprecedented crisis and caused the largest displacement of people since the Second World War. Over two million people have already had to relocate and the number is expected to climb to 5 million.
As aid organisations, charities, and governments raise significant funds to support those affected, they are finding it difficult to deliver the funds to those displaced by the fighting. Many Ukrainian refugees no longer have access to their bank accounts while the delivery of support via cash is impractical and there is a limited stock of plastic payments cards to address the issue through prepaid cards.
Paynetics and Phyre are offering a mobile payment application for quick delivery and use of funds via ApplePay and GooglePay. While many refugees may not have all their critical documents with them, most people will have a mobile phone. Contactless acceptance is now available on the majority of mobile devices in Europe, making it a practical and easy-to-use means of receiving payments.
Paynetics has made it easy for charities to distribute funds securely via the application, in four easy steps.
- The aid organisation identifies the refugees.
- The organisation then sends Paynetics a list of aid recipients – including their name, email, and phone number.
- The refugees are prompted to download the MyPaynetics app from the AppStore/PlayStore.
- The final step involves Paynetics issuing a virtual card for every refugee, onboarding every refugee, activating their account and transferring the funds as instructed by the aid organisation.