Montonio is a multi-faceted product that has been specifically designed for its home market and its neighbour countries. The company facilitates payments, integrates with several Buy Now, Pay Later (BNPL) financing options and handles deliveries and refunds.
The startup supports card payments through integrations with partners. In the Baltics, customers often initiate payments from their bank accounts directly. Montonio has been building out Open Banking connections so that it can initiate payments at a lower cost.
By developing these integrations in house, the company also has more flexibility and technical control over the process. If customers choose to pay using payment links, Montonio charges EUR 0.05 + VAT per payment. Montonio currently supports all major banks in Estonia, Latvia, Lithuania, and a few major banks in Finland. The startup plans to focus on Poland next.
Eventually, Montonio wants to become a one-stop shop for everything that happens once you click the purchase button. The company calls this process the ‘post-checkout experience’. For instance, Montonio can also act as an aggregator for different financing solutions.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now