Nova Group is considering the possibility of buying a bank or several financial institutions to accelerate the development of its payment service NovaPay. The company notes that such a step will allow it to expand the functionality of the service and reach a new level of competition in the financial sector. This is reported by “Pershy Business“, the PromPolitInform portal reports.
NovaPay already operates as a non-bank financial institution, but further scaling requires tools available only to banks – in particular, the ability to attract deposits, issue loans and integrate with a wider range of international financial systems. That is why the group is studying the market and potential objects for acquisition.
According to company representatives, various scenarios are being considered – from buying a small bank with ready-made infrastructure to buying a larger institution that will allow it to quickly increase the volume of financial transactions. Negotiations are at an early stage, and final decisions have not yet been made.
Analysts note that the entry of Nova Group into the banking market can significantly change the balance of power in the financial sector. The company has a huge client base and an extensive logistics network, which creates unique opportunities for the development of digital financial services.
Recall that if the deal goes through, NovaPay can become one of the most powerful players in the market of online payments and financial services, especially given the rapid growth in demand for remote banking solutions.
