Ukrainians can now officially open stores on the Etsy online marketplace following the launch of the Etsy payment system in Ukraine, Digital Transformation Minister Mykhailo Fedorov announced on Oct. 18.
“The launch of Etsy payments in Ukraine is an important part of the systematic work of the Digital Transformation Ministry to scale up the participation of Ukrainians in the international e-commerce ecosystem,” Fedorov wrote on his Telegram channel.
The Etsy marketplace allows millions of crafters and artists to sell mostly handmade and vintage goods to over 90 million active buyers around the world.
Ukrainian entrepreneurs had been selling on Etsy for years but without the official purchase protection system that guarantees buyers will receive refunds if products are damaged or fail to arrive.
The payment system will allow sellers in Ukraine to access the Etsy purchase protection system, 24/7 support, manage their store's financial information, and receive funds directly to their bank accounts.
Buyers of Ukrainian products will be able to access different payment options, including the ability to pay in their local currency.
"This will give Ukrainians the opportunity to open new stores without the help of intermediaries," Yulia Pavlenko, director of the international operations department of Ukrposhta, told Forbes Ukraine.
The ministry will continue to ensure that there are more opportunities for Ukrainian entrepreneurs, Fedorov said.
Etsy has been a vocal support of Ukraine since the start of Russia’s full-scale invasion, providing information to its customers on how to support Ukrainian sellers.
Dominic Culverwell
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