Nova Poshta Streamlines Its Cross-Border Payments Services

by Paul Redmond7 June, 2022

Clear Junction has partnered with the Nova Poshta group to provide a range of cross-border payments services to its main payment arm. The partnership is indicative of Clear Junction’s interest in expanding its services on a global scale.

We are pleased to announce that Clear Junction has begun working with Novapay, the payment arm of one of the major retail logistics brands in the Ukraine. The Nova Poshta group is a major postal and courier company that provides express delivery services for individuals and businesses. Its headquarters are in Ukraine, although it has recently expanded into Moldova.

FACILITATING PAYMENTS BETWEEN UKRAINE AND THE WORLD

NovaPay is the Nova Poshta group’s payment arm and our partnership with them will help to facilitate cross-border payments between Ukraine and the rest of the world. According to the National Bank of Ukraine, in the first half of 2021, NovaPay had a leading share in 40% of the local money transfer market, with a total of 3,600 locations operated in NovaPoshta outlets.

We have worked to identify the most suitable payments solutions with the team at NovaPay; this has culminated in our providing them with a correspondent account for its accounts receivables in euros. Clear Junction’s service provision in Ukraine and Moldova helps to demonstrate just how important it is that financial institutions from that region come together to work with a global payments solutions provider such as ours.

Our routes into countries around the world enable the team at Nova Poshta to overcome many of the challenges, hurdles and barriers associated with international expansion. Not only will the partnership provide many benefits for Nova Poshta’s clients, it will also enhance the capabilities of the business.

CONNECTING UKRAINE WITH THE EUROPEAN UNION

“We support the development of trade between Ukraine and European countries and we want both the parcel delivery from abroad and the payment for them to be as convenient and fast as possible,” says Andriy Kryvoshapko, CEO of NovaPay. “It is important for us to be a reliable business partner and therefore we began working with Clear Junction. This will allow us to improve settlements with senders of parcels from EU countries.”

“Clear Junction is proud to add the Nova Poshta Group to our list of clients in Ukraine,” says Dima Kats, Chief Executive of Clear Junction. “We see this as a very logical step for us, especially considering the military actions in Ukraine which have caused major disruption to the existing logistics infrastructures. We would like to take part in the facilitation of the further expansion of the economic and business ties between Ukraine and the European Union.”

To find out more about how Clear Junction can help institutions based in Ukraine connect to countries around the world and streamline cross-border payments, please get in touch with our team via the contact form.

Latest Posts

Fintech and the Financial Ecosystem – Part One

Fintech and the Financial Ecosystem – Part One

The explosion of investment into the UK’s financial sector over the past few years has accelerated the digitalisation of finance. Here, we take a deeper dive into the UK’s financial ecosystem, the role that financial technology has to play, and what’s next in the...

read more
Money20/20 Europe 2022 Event

Money20/20 Europe 2022 Event

The Clear Junction team recently travelled to Amsterdam to attend the Money20/20 Europe 2022 event. It is difficult to overstate just how much we all enjoyed it and the ability to connect with people via the app and schedule meetings made the few days extremely...

read more