iPay.ua Launches the “My Bank” Payment Method

iPay.ua Launches the "My Bank" Payment Method

Publication date:

14.07.2026

Publication from:

iPay.ua

Payment provider iPay.ua has introduced a new payment method, My Bank, enabling customers to pay directly from their mobile banking app without entering a card number, CVV code, or banking details.

Users simply select their bank on the payment page, and the system automatically opens their banking app with a pre-filled payment ready for confirmation. The payment is processed as a direct account-to-account (IBAN-to-IBAN) transfer, without relying on traditional card networks or card payment infrastructure.

This means users interact directly with their bank account rather than a payment card, completing transactions within the familiar and secure environment of their banking application.

Pay by Bank: A Global Payment Trend Now Available in Ukraine

The My Bank payment method is based on the Pay by Bank model—a modern account-to-account (A2A) payment approach that has gained significant traction across Europe.

In many countries, similar solutions have become an integral part of everyday payments alongside bank cards, including iDEAL in the Netherlands, BLIK in Poland, and Bizum in Spain.

With the launch of My Bank, iPay.ua is bringing this payment model to Ukraine. During the initial rollout, the service is available on the iPay.ua payment platform as well as in the KUB application operated by Naftogaz Group.

My Bank represents the next stage in the evolution of Ukrainian payments. Ukraine is moving toward account-to-account payments in step with global market trends,
says Yevhen Vielikanov, CEO of iPay.ua.

How It Works

Paying with My Bank takes just a few seconds:

Select My Bank from the available payment methods.
Choose your bank from the list.
The system automatically opens your banking app.
A pre-filled payment is ready for confirmation.
Confirm the payment in your banking app.

Once confirmed, the customer immediately receives payment confirmation from the merchant.

All payment details—including the amount, beneficiary information, and payment purpose—are generated automatically. No card information or bank account details need to be entered manually.

How My Bank Differs from Card Payments

With My Bank, payments are processed as direct transfers between bank accounts (IBAN-to-IBAN), eliminating the need for a payment card.

Specifically:

Payment authorization and confirmation take place inside the banking app.
Customers interact directly with their bank.
Funds are transferred directly from one bank account to another.

As a result, transactions bypass traditional card payment infrastructure, reducing the number of intermediaries involved.

This delivers several key benefits:

Lower fraud risk, as no card credentials are shared.
Greater customer control through their banking application.
Lower payment acceptance costs for merchants.

How It Differs from Apple Pay and Google Pay

Although the user experience is similarly seamless, Apple Pay and Google Pay remain card-based payment solutions. While card credentials are replaced with digital tokens, transactions still travel through the traditional card payment infrastructure.

My Bank works differently:

No payment card is used.
No card acquiring is involved.
No card payment infrastructure is required.
Payments move directly between bank accounts.

As a result, users benefit from enhanced security because card credentials are never transmitted or processed, eliminating the possibility of card data interception.

Businesses, meanwhile, benefit from a simpler and more cost-effective payment acceptance model.

Learn more about My Bank: https://qr.ipay.ua/

Benefits for Customers

Card-free payments in just a few clicks.
Secure confirmation within their trusted banking app.
Enhanced security through direct interaction with their bank.
Full payment transparency before confirmation.
Ability to make payments exceeding standard card limits.
0% commission for customers of selected partner banks.

Benefits for Businesses

Traditional card payments involve multiple intermediaries. My Bank streamlines the process into a direct account-to-account transfer.

For businesses, this means:

Up to 50% lower transaction costs compared to traditional card payments.
No expenses associated with POS terminals or card acquiring.
Higher conversion rates thanks to a simplified payment journey and the absence of card spending limits.

My Bank fundamentally changes the economics of digital payments. The process becomes simpler and more affordable because many of the costs inherent in card infrastructure simply disappear in an account-to-account model,
says Ivan Stepanets, Innovation Director at iPay.ua.

What’s Next for My Bank

The first My Bank integrations mark only the beginning of the Pay by Bank rollout in Ukraine.

The next phase includes expanding the payment method across e-commerce, digital services, and offline payments.

Today, customers can already use My Bank to pay for more than 50 services on iPay.ua as well as payments within the KUB app by Naftogaz Group.

Partner Banks

The My Bank payment method is currently supported by:

Bank Credit Dnipro
Raiffeisen Bank Ukraine
Universal Bank (monobank)
PrivatBank
OTP Bank
Bank Pivdenny
Pravex Bank
MTB Bank
A-Bank
Sense Bank
UKRSIBBANK
VST Bank
Crédit Agricole Bank Ukraine
Radabank

The list of partner banks will continue to expand.

Customers of selected banks—including monobank, A-Bank, OTP Bank, KredoBank, Alliance Bank, Radabank, and Bank Credit Dnipro—currently enjoy 0% transaction fees.

About iPay.ua

iPay.ua is a Ukrainian fintech company with over 18 years of experience delivering innovative payment solutions.

The platform processes payments for millions of users and partners with leading organizations including Ukrzaliznytsia, Uklon, WOG, SOCAR, UPG, Silpo, YASNO, Kyiv Digital, and many others. The company also collaborates with Ukraine’s leading banks.