VEON, a leading global provider of connectivity and internet services, has announced that its operating company in Ukraine, Kyivstar, has received the Best FinTech Service award for its pioneering financial service application, Smart Money, at the Leaders in FinTech and Digital Banking Awards 2021.
Kyivstar’s Smart Money app allows users to make thousands of everyday payments, such as payments for public transport, utility bills and TV services via their mobile phone, without the user having to pay commission or linking to a bank card.
Users’ payments are safely transferred to the merchant by information security protocols via the internet using one-time only passwords generated by their unique personal profile. Smart Money gives customers the ability to pay for over 3,000 services and is regularly used by more than 1.2 million Kyivstar customers.
“For eight years, the Kyivstar Smart Money app has proven its effectiveness and inspired the creation of similar platforms by other market participants, which, of course, contributes to the development of the cashless economy and financial inclusion,” said Elena Suvorova, Head of Mobile Financial Services at Kyivstar.
The Leaders in FinTech and Digital Banking Awards recognise banks, non-bank financial institutions and FinTech organisations that work to advance the quality of digital products, advanced technologies and customer services in Ukraine’s banking and FinTech markets. The Awards’ judges included experts from the National Bank of Ukraine, the Ministry of Digital Transformation of Ukraine, the Ministry of Economic Development and the Ministry of Finance.
