Translated by Ollie Richardson & Angelina Siard
The principle of “Poroshenko’s razor”: don’t look for other explanations for the actions of the authorities if these actions can be explained with the opportunity to earn dough.
In 2016 in Ukraine a number of payment service providers that allowed to send payments to Ukraine and visa versa were banned.
In 2017 the transfer service “Tyme” was born, which by the end of the same year became the largest money transfer system in Ukraine. The secret of its success is simple: “Tyme” works as a “layer” between the forbidden systems and Ukrainian recipients. In other words, the system that was subjected to sanctions transfers the money of the sender to a “layer” outside the Ukrainian jurisdiction (in our case, through Turkey), which transfers money to Ukraine under its flag and gives it to the client. Having for this, of course, its small profit that, taking into account the scale of the matter, isn’t that big.
“Tyme” is a record holder in this domain – in many respects because the already state-owned “Privatbank“ became its partner. Well, and the owner of the “Tyme” system is the close friend of Poroshenko and “investment banker” Igor Mazepa.
By the way, besides the “Tyme” service he also possesses the electronic payment system “Qiwi”. The fact that two largest until recently competing systems “Yandex.Money” and “Webmoney” also fell under sanctions is also, of course, a mere coincidence…
In general, Mazepa understands investments very well: it is best of all to invest in friendly relations with the authorities. Such investments, unlike others, almost always pay off.
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