Business news from Ukraine

NovaPay increased number of transactions by 31% with 41% increase in their amount

15 February , 2024  

The total number of transactions through the international financial service system NovaPay, part of the NOVA group of companies, reached 354 million in 2023, up 31% year-on-year, and their value increased by 41% to UAH 235.5 billion, NovaPay said on Wednesday.

“In 2023, the company received an expanded NBU license, which allows it to provide more services to customers, and launched a beta version of the mobile application. All of this is to be even faster and more convenient for customers,” commented Igor Prikhodko, CFO of NovaPay.

It is noted that the company recorded an increase in the share of non-cash payments from 50.1% in 2022 to 53.4% in 2023.

According to NovaPay, the list of the most popular services, in addition to traditional transfers, also includes utility bills, card replenishment and cash withdrawals, and international transfers as aid for Ukrainians.

It is noted that in 2023, NovaPay transferred UAH 1.2 billion to the country’s budget, which is 44% more than in 2022.

NovaPay has been providing online and offline payment services for almost 12 years, currently in more than 3.5 thousand Nova Poshta branches. According to the NBU, the company accounts for 35% of the total volume of domestic money transfers.