Volume of money transfers via Ukraine's NovaPay up 26%, number of transactions up 17% in H1 2024

MOSCOW. July 24 (Interfax) - The amount of money transferred through the international financial service NovaPay in Ukraine in January-June 2024 reached UAH 136.6 billion, having grown 26% compared to the same period in 2023, Ukrainian media reported citing a statement of the company's press service.

The NovaPay system processed 193 million transactions in January-June 2024, or 17% more than in the first half of 2023, the press service said.

The company transferred UAH 530 million to the Ukrainian budget, or 13% more than in the first half of 2023, the statement said.

Apart from conventional money transfers, the most popular services offered by NovaPay also included topping up a bank card balance, withdrawing cash, and paying for housing and utility services, it said.

NovaPay is an international financial service set up in 2001 and incorporated in the Nova Post group, Ukraine's express delivery market leader, offering financial services both online and offline at Nova Post offices. According to the company's website, it employs around 13,000 people at over 3,600 Nova Post offices nationwide. According to the National Bank of Ukraine, the company accounts for 35% of the overall amount of domestic money transfers.

The consolidated revenue of NovaPay as a non-banking financial group grew 46.4% in 2023 to UAH 7.618 billion and net profit grew by 38.3% to UAH 3.267 billion.