Inbank has entered into a partnership with Montonio, a provider of checkout solutions in Estonia.
The initial phase of the partnership will “be rolled out in Estonia, with future plans to expand to other markets.”
Montonio is known for offering “a range of payment and e-commerce services to its merchants, including payment initiation, card payments, pay later, and financing.”
These services empower merchants to “manage various e-commerce transactions and offer flexible financing to consumers.”
As of now, Inbank will provide BNPL [buy now pay later] and installment payment services through Montonio’s checkout.
Piret Paulus, Inbank’s Head of Growth and Business Development and Member of the Board, commented that they don’t always need to build everything from scratch, and Inbank can help provide valuable support.
As noted in the update:
“Our current and potential partners have emphasized the need for a full checkout solution and we’ve been on the lookout for a strategic partner who’s capable of delivering a top-notch solution. Montonio caught our attention with its high-quality and user-friendly platform for merchants. Their technological capabilities and user-friendly interface make them an excellent choice for providing a complete checkout solution with.”
Markus Lember, Montonio’s CEO and co-founder, said that BNPL has transformed how consumers shop.
“This trend not only empowers consumers with more purchasing power but also urges retailers to integrate these options seamlessly into their payment systems.”
Founded in 2018, Montonio is “a European payment and e-commerce solutions provider with a comprehensive platform that enables merchants to accept payments and manage various e-commerce services seamlessly.”
With a robust suite of services from financing to shipping and refund management, Montonio eliminates the need “for multiple systems and offers tailored solutions for specific markets.”
Today, Montonio is used in 6,000+ online stores “in Poland, Germany, Lithuania, Latvia, Estonia and Finland.”
As mentioned in the announcement, Inbank is “a financial technology company with an EU banking license that connects merchants, consumers and financial institutions on its next generation embedded finance platform.”
Partnering with 5,400+ merchants, Inbank “has 894,000+ active contracts and collects deposits across 8 European markets. Inbank bonds are listed on the Nasdaq Tallinn Stock Exchange.”
