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The National Bank of Ukraine: Only LEO IPS and NovaPay payment systems were able to increase the volume of transfers in Ukraine since the beginning of the year

LEO International Payment System (“Finansovaya Kompaniya LEO” LLC) and NovaPay (“NovaPay” LLC) managed to increase the volume of money transfers within Ukraine by 6% compared to the beginning of the year. This information was announced by the Director of the Department of Payment Systems and Innovative Development of the National Bank of Ukraine Andriy Podderegin during his speech at the XXII Payments & Security EMA Conference, which was held by the Ukrainian Interbank Payment Systems Member Association.

According to the official, the domestic money transfer market has fallen by 17% (to UAH 26.9 billion) since the beginning of the year (according to the data for the period from January to May 2022). At the same time, the number of transfers also decreased by 24% (to 47.8 million transfers).

Among all major players, only LEO IPS and NovaPay were able to show growth in this segment. 

“Last year, the management of the LEO MPS decided to stake on active business scaling. As a result, they implemented fundamental changes in the structure of the management of the company, which affected all levels: From top managers to individual teams within departments.

These and other reforms within the company were successful and timely. The most important thing is the fact that they allowed our payment system to work perfectly in difficult wartime conditions and show satisfactory results,” commented the CEO of LEO IPS and the Chairman of the Supervisory Board of IBOX BANK, Alona Shevtsova.

In addition, LEO IPS were able to bypass the “Finansoviy Mir” payment system in terms of domestic transfers and take third place in this aspect, thus increasing domestic transfers to the total amount of UAH 3.6 billion.

We would like to remind the audience that the National Bank of Ukraine has included the LEO International Payment System in the category of important and system-forming payment systems of the country, based on the results of monitoring the activities of payment systems in 2020 and in accordance with the established criteria of their importance. As of today, LEO IPS is among the Top 5 largest players in this market, second only to such companies as Nova Poshta and Ukrposhta.

In addition, LEO IPS received the Best Payment Provider for Metaverse award at the UKRAINIAN FINTECH AWARDS 2021 from the Ukrainian Association of Fintech and Innovative Companies.

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