What NovaPay does

NovaPay is a Ukrainian non-bank financial services provider and the fintech arm of NOVA Group (which includes Nova Poshta, Nova Post, Nova Global, Supernova Airlines, and Nova Digital). The company operates under NBU licenses for payment services (No. 21/770-rk, April 2023) and currency operations (No. 58, May 2023), holding a 22.7% share of Ukrainian transfers (NBU data, #1 among non-bank money transfer systems). It processed 430 million transfers worth UAH 389.7 billion in 2025, equating to roughly 2.5 million daily transactions, and reported net profit of UAH 2.6 billion (down 21.2% YoY) while paying UAH 1.5 billion+ in taxes.

NovaPay's product surface spans a mobile-first consumer and SMB app (iOS/Android), a web-based Business Cabinet, and a PSD2-aligned Open Banking API. Core offerings include cash-on-delivery crediting at 0.5% to NovaPay accounts, internet acquiring (1.3%), instant and international transfers, FOP and legal-entity business accounts with free opening/maintenance, salary projects (0% fee), bulk register payments, trading revenue deposits, credit cards, installment plans, parcel-on-credit, and corporate bond issuances (14th round, up to 18% p.a., uaAA-rated). Technology is integrated with Nova Poshta's 3,600-branch logistics network, which serves as both distribution and customer-acquisition backbone; additional integrations include Diia (government digital identity), Vchasno (e-document signing), Apple Pay, Google Pay, and PRRO fiscal systems.

The business model is primarily transaction-fee based, with take rates ranging from 0.15% (trading revenue deposit) to 2.5%+ (standard cash-on-delivery), supplemented by lending revenue (credit cards, installments, Salary Urgent micro-loans, business loans), bond issuance funding, and brokerage fees via subsidiary NovaPay Solutions LLC (e.g., Naftogaz gas-supplier switching at Nova Poshta branches). GTM is multi-channel: branch-based cross-sell at Nova Poshta locations, mobile-app-led self-service for consumers and FOPs, manager-led enterprise onboarding for legal entities, and event-driven brand positioning (UAFIN.TECH). Customers are segmented across individuals, FOPs, SMEs, and select enterprise partners, all served exclusively within Ukraine today.

Name

NovaPay

Legal name

ТОВАРИСТВО З ОБМЕЖЕНОЮ ВІДПОВІДАЛЬНІСТЮ «НоваПей» (NovaPay Limited Liability Company)

Website

https://novapay.ua

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

NovaPay is a Ukrainian non-bank financial services provider embedded in NOVA Group's Nova Poshta logistics network, offering payments, transfers, lending, business accounts, and Open Banking APIs to individual consumers, FOPs, and SMEs across Ukraine.

Ownership category

akta.pro rank

Product category

Payment Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Depository Credit Intermediation (5221)

SIC

Finance Services (6199), Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Payment Initiation & Account-to-Account (A2A) Payments (PIS, RTP initiation) (FSAGACAI)

akta.pro secondary industries

Embedded Card Issuing & Card-as-a-Service (FSAGALAC), Recurring Payments & Variable Recurring Payments (VRP) Enablement (FSAGACAJ)

Keywords

• Mobile payment services
• Cash on delivery
• Payment infrastructure
• Open banking API
• Business banking accounts

Headquarters

HQ city

Kyiv

HQ country

Ukraine

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Transaction & Processing Fees: NovaPay charges fees on cash-on-delivery transactions (0.5–2.5% depending on account type and fee structure), internet acquiring (1.3%), invoice processing (1%), register payments (1.5%), and trading revenue deposits (0.15%). These are the primary revenue streams.
2. Credit Card & Lending Products: Revenue generated from credit card issuance and use, installment plans, and the 'Salary Urgent' loan product offered to salary project cardholders. The company also offers parcel purchases on credit.
3. Business Account & Salary Project Services: Free account opening and maintenance for FOPs and legal entities generates cross-sell opportunities. Salary project (0% fee) drives card adoption and future lending revenue.
4. Corporate Bond Issuance: NovaPay issues corporate bonds to Ukrainian investors (up to 18% p.a., 14th issuance registered). Interest payments and bond sales represent a funding mechanism with associated cost.
5. Brokerage & Partner Services: Revenue from brokerage services at Nova Poshta branches (e.g., Naftogaz gas supplier switching service), where NovaPay Solutions LLC charges per transaction based on complexity and branch count.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels8 records

Core offering

NovaPay is a Ukrainian non-bank fintech company that delivers payment, transfer, and financial services integrated with the Nova Poshta logistics network. Its offerings include cash-on-delivery crediting, instant and international money transfers, mobile payment accounts, credit cards, installment plans, corporate bonds, business accounts for FOPs and legal entities, internet acquiring, salary projects, bulk register payments, trading revenue deposit, and an Open Banking API compliant with NBU/PSD2 standards.

Product overview

NovaPay is a fintech company within the NOVA Group offering a comprehensive financial ecosystem integrated with Nova poshta logistics. The product portfolio includes a core mobile app serving both individuals and businesses, with specialized modules for payments (cash-on-delivery, instant transfers, international remittances, bill payments), credit products (credit card, installment plans, parcel credit, business loans), and investment services (corporal bonds). For businesses, NovaPay provides payment accounts for individual entrepreneurs and legal entities, internet acquiring, salary project management, register payments for bulk disbursements, and trading revenue deposits. The platform also offers an Open Banking API for third-party integrations and partner services enabling external companies (e.g., Naftogaz) to offer their services at Nova poshta branches. All services are accessible through the NovaPay mobile app, business cabinet web portal, and APIs.

Differentiator

Problem solved

Functional benefit

Products and services

• NovaPay Credit Card

Quantifiable outcome

• 22.7% market share of transfers in Ukraine (NBU data), making NovaPay #1 among non-bank money transfer systems
• +4 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability2 records

Feature5 records

Partnerships

Eight partnerships are on record, tiered flagship, minor and core.

• MastercardflagshipStrategic or Co-development Partner · 12 December 2025Mastercard served as the general partner of the UAFIN.TECH 2025 conference (December 12, 2025, Kyiv), where NovaPay was a partner. The conference focused on embedded finance, Banking-as-a-Service, and regulatory challenges. NovaPay's participation signals its positioning within Ukraine's broader fintech-ecosystem alongside the leading global payments network.
• UAFIN.TECH Event (Activitis, Moneyveo, Done)minorGTM or Marketing Partner · 12 December 2025NovaPay was listed as a partner alongside Activitis, Moneyveo, and Done for the UAFIN.TECH 2025 conference in Kyiv, focused on the future of embedded finance. This conference brought together banks, fintech companies, technology firms, startups, and regulators to discuss new monetization models, customer experience, BaaS development, and regulatory challenges.
• Naftogaz of Ukraine (Gas Supply Company)flagshipStrategic or Co-development Partner · 18 October 2021NovaPay Solutions LLC and Naftogaz of Ukraine jointly implement a gas supplier switching project. Household gas consumers can apply to switch to Naftogaz at approximately 1,700 Nova Poshta branches, particularly in remote rural areas and district centers across all regions of Ukraine. This partnership brings new service categories into Nova Poshta branches and generates brokerage revenue for NovaPay.
• NOVA Group / Nova PoshtacoreStrategic or Co-development PartnerNovaPay is the financial services arm of NOVA Group, fully integrated with Nova Poshta's logistics operations. Nova Poshta (along with NovaPay, Nova Post, Nova Global, Supernova Airlines, and Nova Digital) forms the NOVA Group ecosystem founded in 2001. NovaPay's 3,600 service points are co-located at Nova Poshta branches. This is the core distribution and customer acquisition partnership underpinning NovaPay's entire business model.
• Vchasno (Electronic Document Management Service)coreTechnology or IntegrationNovaPay uses the Vchasno electronic document management service for signing contracts with business clients. Business customers upload documents and sign agreements electronically via Vchasno, which NovaPay managers upload documents to for client signature. This is an operational technology partnership essential to NovaPay's business onboarding workflow.
• Diia (Ukrainian State Digital Services)coreTechnology or IntegrationNovaPay integrates with Diia, Ukraine's government digital services platform, allowing individual entrepreneurs to open NovaPay accounts remotely using their Diia identity verification. This reduces onboarding friction and enables fully digital account opening.
• NovaPay Credit (within NOVA/NovaPay financial group)coreStrategic or Co-development PartnerNovaPay Credit, part of the NovaPay financial group and NOVA family, provides the 'Salary Urgent' loan product offered to employees with NovaPay salary cards (0.00001% p.a., 1-month term, up to UAH 100,000). This internal cross-sell leverages NovaPay's salary project customer base to drive lending revenue.
• PIN Bank / Motor-Bank (potential acquisition targets)minorOthersNova Poshta's co-owner announced the company is considering acquiring a bank to expand NovaPay's product lineup toward a full banking ecosystem. Potential targets include PIN Bank and Motor-Bank, which the National Bank of Ukraine declared insolvent in February 2026, with 11 investors having expressed interest in their resolution tenders. This represents a potential M&A partnership rather than an existing active alliance.

Scale indicators10 records

Recent moves7 records

Expansion highlights7 records

Broad incumbents

• Payoneer: Global cross-border payments platform for SMBs, freelancers, and marketplaces, with significant Ukrainian freelancer/SME user base. Comparable to NovaPay's SME/FOP account and cross-border payment positioning.
• Remitly: Global digital remittances platform serving immigrant senders and recipients, with strong presence in Ukraine as a receiving corridor. Comparable to NovaPay's international money transfer and cash-on-delivery/payout capabilities for cross-border flows into Ukraine.
• Wise (TransferWise): Global cross-border payments platform offering low-cost international transfers, multi-currency accounts, and business payouts. Comparable to NovaPay's international money transfer and business payment/cash-on-delivery processing.
• PUMB: One of Ukraine's largest commercial banks by assets, providing corporate and SME banking, payments, and trade finance. Comparable as a broad incumbent competing with NovaPay's business accounts, salary project, and acquiring offerings.
• PrivatBank: Ukraine's largest bank by deposits and active clients (~20M+), operating LiqPay and a national branch/ATM network. A broad incumbent competitor with significantly larger balance sheet; overlaps with NovaPay on payments, transfers, acquiring, and FOP/enterprise accounts.

Direct peers

• Portmone: Ukrainian payment processor and bill-aggregation platform serving consumers and businesses with internet acquiring, invoice, and account-to-account payments. Comparable as a domestic payments/fintech peer competing on similar merchant and consumer use cases.
• monobank: Ukraine's leading digital-only neobank with 7M+ users, offering accounts, transfers, payments, and cashback via a mobile app. Closely comparable as a Ukrainian fintech serving consumers and FOPs with mobile-first financial services; competes head-on with NovaPay in transfers and SME accounts.
• iPay.ua: Ukrainian online payment and money transfer service focused on P2P transfers, bill aggregation, and internet acquiring for SMEs. Directly competes with NovaPay's transfer and acquiring product lines in the Ukrainian market.
• EasyPay: Established Ukrainian non-bank payment system with a nationwide self-service terminal network for cash deposits, bill payments, and transfers. Comparable to NovaPay as a domestic non-bank money transfer and bill payment operator with physical service points.

Emerging players

• Revolut: Global digital banking super-app offering accounts, transfers, cards, acquiring, and Open Banking APIs across Europe. Comparable as a global embedded-finance/platform fintech expanding into Eastern European markets where NovaPay also plans to compete (Moldova, EU).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/novapay.ua
• LinkedInlinkedin.com/company/novapaypostfinance
• Instagraminstagram.com/novapay_ua

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NovaPay