AUB partners news

Entrepreneurs who sell on OLX now receive cash on delivery payments directly to their sole proprietorship account—quickly, transparently, and without unnecessary steps—thanks to the NovaPay service. The financial institution has also implemented a service for OLX that automatically distributes payments: the system deducts the platform commission, and the seller receives the net income immediately after the buyer pays for the goods at a Nova Poshta branch.

"We want to make it easier for Ukrainian entrepreneurs to do business online, and this is our next step in developing NovaPay services for them. The functionality reduces the number of manual operations, increases payment transparency, and simplifies document flow. The service is available exclusively for payments through the cash on delivery system and works automatically after opening an entrepreneur's account and signing a contract with NovaPay," says Oleksiy Ruban, Director of Innovation at NovaPay.

Sellers on OLX get a convenient tool for working with cash on delivery: in their account, they can issue shipping invoices, track order status, and control the receipt of funds without having to spend time paying marketplace commissions. There are also advantages for the OLX platform: after all, the convenience of working with customers directly affects their conversion rate.

“It is important for us that entrepreneurs selling on OLX not only have access to a large audience of buyers, but also have modern tools to manage their business. One such solution is our partnership with NovaPay, which has made the process of receiving cash on delivery transparent and as simple as possible: the seller immediately receives the net amount of the payment to their individual entrepreneur account, and the system takes care of all the technical details. This solution allows our customers to focus on what matters most — sales and business development — without wasting time on financial bureaucracy," said Oleksandr Madzigon, Head of the Goods Category at OLX Ukraine.

How entrepreneurs can get verified on OLX and receive cash on delivery payments to their sole proprietorship account from sales through OLX Delivery:

• Update your payment information in your OLX account.
  
• Agree to transfer your data to NovaPay.
  
• have a valid contract with NovaPay for cashless transfers, which can be concluded online in the NovaPay app;
  
• after that, the cash on delivery function will be activated in your profile;
  
• receive funds for goods sold — to your NovaPay account — on the same day, to other bank accounts — the next day.

“This innovation meets a real need for thousands of entrepreneurs who trade on OLX,” adds Oleksandr Madzigon.

NovaPay is an international financial service from the NOVA (Nova Poshta) group of companies, which has been providing online and offline payment solutions in over 3,600 branches for 13 years. NovaPay became the first non-banking institution in Ukraine to receive an extended license from the NBU to open accounts and issue cards.

OLX is the No. 1 classifieds platform in Ukraine, helping over 23 million Ukrainians every month to sell/buy goods, find a job, new home or car, and get support from numerous service providers. The OLX mobile app covers over 50% of Ukrainian mobile device users and is installed on every second smartphone. Every second resident of Ukraine visits OLX.ua at least once a month.