Nova Poshta partners with Clear Junction to streamline its cross-border payments
By Joy Dumasia
Clear Junction announced providing a range of cross-border payments services to NovaPay, the payment arm of one of the retail logistics brands in Ukraine. The Nova Poshta group is a postal and courier company that provides express delivery services for individuals and businesses. Its headquarters are in Ukraine, but it has expanded into Moldova in recent years.
“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.”
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 3,600 locations operated in NovaPoshta outlets. Clear Junction has worked to identify the most suitable payment solutions and has provided NovaPay with a correspondent account for its accounts receivables in euros.
Andriy Kryvoshapko, CEO of NovaPay, said: “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. 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’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 worldwide. NovaPay’s partnership with Clear Junction will benefit Nova Poshta’s clients and enhance the business’s capabilities.
IBS Intelligence also reported that KoronaPay, the EU-based online money transfer service with over 13 million users worldwide, has partnered with Clear Junction, the global payments solutions provider, to offer its users a wider choice of international remittance options.
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