Etsy Payments launches in Ukraine. Why is it important for sellers?

Etsy Payments, a payment interface of one of the largest handmade marketplaces in the world, Etsy, has officially been launched in Ukraine. This means that from now on, users from Ukraine will be able to open their shops on Etsy and trade directly on the platform. The news was announced by the Minister of Digital Transformation of Ukraine, Mykhailo Fedorov.

• The online platform Etsy unites more than 90 million buyers worldwide and specializes in selling handmade products, vintage items, and craft supplies.
• Etsy Payments allows sellers to accept payments for goods directly through the platform. Sellers will have access to Etsy Purchase Protection and dedicated 24/7 support. Entrepreneurs will also be able to manage all of their store’s financial information.
• The company began testing Etsy Payments in Ukraine during the summer of 2023. At the same time, the company also launched a beta in Japan, Thailand, and Peru. While testing, Etsy sent out invitations to participate in the beta test, as well as conducted a survey for sellers.

“Cool news for Ukrainian entrepreneurs. Etsy Payments is now available in Ukraine. So, Ukrainians can officially open stores on the platform and sell goods worldwide. Keep working to ensure that Ukrainian businesses have more opportunities for development and scaling,”

Mykhailo Fedorov said on his LinkedIn page.

Why is it important?

Previously, users from Ukraine could not open shops on Etsy. After introducing new rules for the platform in 2021, Etsy blocked the possibility to sell products for users from a number of countries, including Ukraine.

With the official launch of Etsy Payments, Ukrainian artisans will be able to open shops on the platform, sell goods to people from America, Europe, Asia, etc. This will allow buyers from all over the world to support Ukrainian craftsmen and strengthen the economy.