This launch follows the expansion of these services to Estonia, where merchants report increased sales, higher conversion rates and a more convenient customer shopping experience.
Montonio and Ibank aim to boost sales by making purchases more accessible, increasing the average cart value, offering a wider range of payment options and attracting new customers. This strategy could potentially reduce card abandonment rates and offer a more flexible experience for shoppers with easy financing options.
The BNPL solution is currently available in Latvia, with it launching in Lithuania in 2025. Utilising this service, customers making orders worth between EUR 30 and EUR 800 can pay next month or split payments into two or three instalments without any fees, as merchants will cover the percentage-based fee. The store will get the full amount paid upfront in a few days.
The role of the Hire Purchase solution is to increase big-ticket sales. This service is available from launch in both Lithuania and Latvia and it allows customers to split payments over three to 72 months. There are no costs for merchants, as customers cover the fees and interest. This is available for customers who make orders worth from EUR 100 to EUR 2500, expandable to EUR 10.000.
The solutions can be instantly activated in just a few clicks, with no need for separate reviews or approvals. The integration is merchant-friendly and fast, working with existing payment setups with no additional or hidden fees.
By deepening its connection with Inbank, Montonio aims to support merchants to scale their online sales an deliver an improved checkout experience.
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