NovaPay, a financial company from Nova Posta Group, has entered the Moldovan market and became the first financial service in that country to introduce the cash-on-delivery feature, the company’s press office said Friday.
“NovaPay is the first domestic fintech company to begin its global expansion, and Moldova was the first international development market for us,” said company CEO Andrei Krivoshapko.
According to him, NovaPay will provide Moldovan enterprises and private clients with financial services, which have not been available on the market before, and will also accompany Novaya Posta’s logistics operations.
Krivoshapko added that after receiving the extended license, the next stage will be opening accounts and issuing cards to them, credit products, including “Parcel to Credit”.
It is worth mentioning that citizens of Moldova may receive the cash on delivery service without commission at 19 branches of Nova Poshta in Chisinau, Comrat, Balti, Cahul, Edinet and in other localities – via courier.
The company said that among next plans of NovaPay in Moldova are domestic and international transfers, acquiring and instant domestic and cross-border transfers for business and factoring.
A day earlier, in an interview with Forbes Ukraine, NovaPay announced plans to open offices in every country where Nova Post’s parent company will be located. Priority markets are Poland, Germany, Czech Republic, Slovakia and Bulgaria, where there are more Ukrainians. It was pointed out that for the expansion so far EUR2 million of own investments are foreseen.
“We want to financially “connect” 10 million internally displaced Ukrainians with their families. By launching the application, we plan to attract 30-40% of “Nova Posta” customers to use it,” Krivoshapko told “Forbes Ukraine”.
According to him, in July NovaPay plans to present a beta version of the mobile application, which is currently 70% ready, and its full-scale launch is scheduled for September.
As it was reported, the National Bank of Ukraine has recognized NovaPay as an important payment system with a market share of 45% at the end of 2022.
Earlier NovaPay applied for an Electronic Money institution license in Europe.
NovaPay is a part of Nova Posta Group and provides it with online and offline payment services.
According to the website of the National Bank, in 2022, NovaPay increased revenues by 32.5% to 5 billion 188.92 million UAH and net profit by 46.1% to 2 billion 360.62 million UAH.
