In January-September, NovaPay international financial service (TM NovaPay) increased the volume of transactions by 16% compared to the same period last year, up to UAH 292 million.
According to the press service of NovaPay on Monday, the volume of money transfers in the system increased by 29% to UAH 213.7 billion over 9 months.
“The growth of our business performance was made possible by several key factors. Firstly, we are developing our own mobile application, the convenience and benefits of which have already been appreciated by more than 300 thousand Ukrainian users and more than 20 thousand business clients. Secondly, consumers are increasingly preferring online shopping: sellers send goods and buyers receive them via Nova Poshta. And we provide easy and profitable payment solutions for businesses and Ukrainians,” the press service of NovaPay quoted Ihor Prykhodko, the company’s CFO, as saying.
NovaPay reports that it has seen an increase in customer demand for services for replenishing and withdrawing cash from NovaPay cards at Nova Poshta offices, as well as cash on delivery services for goods delivered by Nova Poshta.
It is reported that in the first 9 months of the year, NovaPay increased its tax deductions by 22% to UAH 4.5 million.
NovaPay is an international financial service founded in 2001 that is part of the Nova group and provides online and offline financial services at Nova Poshta offices. According to its website, the company employs about 13,000 people in more than 3,500 Nova Poshta offices across Ukraine. According to the National Bank of Ukraine, the company accounts for about 35% of the total volume of domestic money transfers.
In 2023, NovaPay was the first non-bank financial institution in Ukraine to receive an extended NBU license, which allowed it to open accounts and issue cards, and was the first non-bank to launch its own financial application with a wide range of financial services at the end of last year.
In the second quarter of this year, the number of active NovaPay payment cards increased from 82.48 thousand to 151.85 thousand, which allowed the service to bypass Kredobank and Pivdenny Bank and come close to the top twenty market leaders.
The total number of active cards in Ukraine in the second quarter decreased from 52 million 738.88 thousand to 52 million 653.61 thousand. The leader, state-owned Privatbank, saw a slight decrease – from 28 million 163.33 thousand to 28 million 163.14 thousand, while the state-owned Oschadbank, which is in third place, had a more significant decline – from 7 million 631.25 thousand to 7 million 346.02 thousand. At the same time, monobank continued to strengthen its second position in the market: the number of its active cards increased from 8 million 446.74 thousand to 8 million 716.85 thousand.
