1 Billion UAH in Taxes to the Budget: NovaPay’s Results for the First Three Quarters of 2024

As of the end of the first nine months of 2024, NovaPay has transferred over 1 billion UAH in taxes and fees to the national budget. This is a 22% increase compared to the same period last year. Investments in victory total 4.5 million UAH.

The total number of transactions during this period amounted to 292 million, a 16% increase compared to the third quarter of 2023. The total value of transfers processed through the system reached 213.7 billion UAH, a 29% rise compared to last year.

“The growth of our business performance has been made possible by several key factors. First, we continue to develop our mobile app, the convenience and benefits of which have already been appreciated by over 300,000 Ukrainian users and more than 20,000 business clients. Second, consumers increasingly prefer online shopping: sellers send goods, and buyers receive them via Nova poshta. And we provide easy and cost-effective payment solutions for both businesses and Ukrainians”, says Ihor Prykhodko, CFO of NovaPay.

Among the most popular services offered by NovaPay, in addition to traditional transfers, are cash deposit and withdrawal operations at Nova poshta branches, and cash-on-delivery service for entrepreneurs selling and delivering goods via Nova poshta.

NovaPay is an international financial service that is part of the NOVA group of companies (Nova poshta) and has been providing online and offline payment services for 12 years across more than 3,500 Nova poshta branches. NovaPay is one of the largest taxpayers in the country. The company was the first non-bank financial institution in Ukraine to receive an extended license from the National Bank of Ukraine (NBU) to open accounts and issue cards. Additionally, the company was the first among non-banks to launch a payment app in December 2023.