Nova Poshta partners with Clear Junction to streamline its cross-border payments
Clear Junction has recently announced it is providing a range of cross-border payments services to 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, but in recent years it has expanded into Moldova.
NovaPay is the Nova Poshta group’s payment arm and Clear Junction’s partnership with them will help 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. Clear Junction has worked to identify the most suitable payments solutions and has provided NovaPay with a correspondent account for its accounts receivables in euros.
“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 its list of our 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.”
Clear Junction’s service provision in Ukraine and Moldova helps demonstrate the importance of financial institutions from that region working with a global payments solutions provider with routes into countries around the world. NovaPay’s partnership with Clear Junction will provide many benefits for Nova Poshta’s clients, but will also enhance the capabilities of the business.