Montonio, a leading provider of online payment and checkout solutions, today announced the expansion of its partnership with Inbank to deliver Buy Now, Pay Later (BNPL) in Latvia and Hire Purchase solutions in Latvia and Lithuania.
These offerings have proven successful in Estonia, where hundreds of merchants report increased sales, improved conversion rates, and a more flexible customer shopping experience.
"Expanding our BNPL to Latvia and Hire Purchase solutions to Latvia and Lithuania alongside Inbank was the natural next step after seeing such strong results with our Estonian merchants. Our goal is to provide businesses with flexible, customer-centric payment options that drive higher conversion and bigger basket sizes.” said Artur Rihvk, Product Manager at Montonio. “By deepening our partnership with Inbank in these new markets, we’re confident we’ll empower even more merchants to scale their online sales and deliver an outstanding checkout experience.”
Merchants who adopt these financing solutions can boost sales and conversions by giving shoppers the flexibility of instalment options and reducing cart abandonment. Flexible payment methods also encourage larger purchases, helping to increase average order value. Moreover, offering these options expands the potential customer base, attracting buyers who prefer or require financing solutions. Best of all, integration is quick and straightforward: merchants can enable BNPL and hire purchase through Montonio’s Partner System with just a few clicks.
"We are equally excited to expand our BNPL and Hire Purchase offering to merchants in these new markets, in collaboration with Montonio," said Donatas Mickus, Head of Sales Department at Inbank Lithuania. "At Inbank, we are committed to empowering merchants with seamless and flexible financing solutions that drive sales and enhance customer experience. By joining forces with Montonio, we ensure that businesses in Latvia and Lithuania gain access to innovative payment options that not only improve conversion rates but also foster long-term customer loyalty."
Merchants can activate BNPL and Hire Purchase within minutes, with no separate review or approvals needed. This instant onboarding enables businesses to offer flexible payment options and start reaping benefits immediately.