An account at PrivatBank is required for companies to use the marketplace. Sellers may display company and product information, and search for buyers. Companies may also participate in tenders — including government tenders, which are managed through a partnership with the ProZorro platform, as reported by AIN.UA.
The B2C part is scheduled for launch in March. Online consumers will be able to make purchases on credit. PrivatBank has established the total credit limit for such transactions at 1 billion hryvnias (nearly $39 million at the current exchange rate)
Among Privat Market’s competitors are Allbiz and Zakupki-online.com (B2B) and Prom.ua (B2C). About PrivatMarket’s distinctive advantages, PrivatBank IT Director Dmitry Dubilet said: “Our service is simpler to use, and it will integrate banking services.” In addition, sellers will benefit from the bank’s online, mobile and offline promote channels.