The international financial service NovaPay from the NOVA group (“Nova Poshta”) has increased the number of POS terminals in Nova Poshta branches from 7,500 in May this year to over 9,200, reaching fourth place among acquirers in Ukraine by transaction volume, the company reported in a press release on Tuesday.
“Dependence on external providers always carries risks: technical failures, delays, lack of control. By creating our own network of over 9,200 POS terminals, we gained the most important thing – full control over service quality and every transaction,” said Oleksiy Ruban, NovaPay’s Director of Innovation, in the release.
The company noted that it also improved system stability and reduced transaction processing time by almost a third – from 22 to 15 seconds.
NovaPay, which began developing its own network of POS terminals in October 2023, announced in May plans to increase their number to 10,000 by the end of 2025 and expand to the open market, offering services to other companies and partners.
Founded in 2001 as an international financial service, NovaPay is part of the Nova group (Nova Poshta) and provides financial services online and offline in Nova Poshta branches. According to its website, the company employs about 13,000 people across more than 3,600 branches of Nova Poshta throughout Ukraine.
In 2023, NovaPay became the first non-bank financial institution in Ukraine to receive an extended license from the National Bank of Ukraine, allowing it to open accounts and issue cards. At the end of last year, it also launched its own financial app offering a wide range of services.
According to the National Bank of Ukraine, the company handles around 35% of the total domestic money transfer volume.
As of September 1, NovaPay had 24,670 payment terminals, or 4.2% of the total number in Ukraine, ranking fourth in the market. The leader by a wide margin is PrivatBank with 341,910 terminals (62.4%), followed by Oshchadbank with 83,330, Raiffeisen Bank with 35,120, and the fifth largest market participant is PUMB with 17,170 terminals.
