MONOBANK
Monobank is the first Ukrainian mobile bank without branches. Any adult Ukrainian who has an iOS or Android smartphone can become its client. Monobank doesn't have its own full-fledged payment system that you can integrate into your website, but it does have something cool - payment in installments.
The commission for purchasing in installments from a monobank is 0%. Even against credit funds. If the free loan period that you determine is not enough, the client can extend the term and literally pay the commission instead of you. In any case, everything is always honest and transparent, and most importantly comfortable. All loan information is available in the bank's app, and its support team is ready to help you and your clients with any question.
Almost 4 million Ukrainians have already used Monobank cards and received a total of more than UAH 10 billion in installment limits. Each of them is your potential customer. All major appliances and electronics stores, as well as children's goods, jewelry, clothing and footwear, and much more, already offer installment purchases. Another popular category is educational services and courses, where you can subscribe by installments.
Monobank has developed a bot for Telegram, and by registering with it, you can start selling. It is very convenient for those customers who use this messenger, including for communication with the bank's support. If your audience is more old-fashioned, you can integrate the service directly with your sales system. In this case, after the customer chooses a product, the store sends a request to the bank, and the buyer receives the terms of the installment plan directly in his application. Next, he will need to "sign the contract", click on the consent button in the application and wait for the store to complete the order. Immediately after that, you will receive money from the bank to the store's account.
Monobank cooperates with all partners on the same terms. In 2021, the commission for installments for three months and 4 payments is 4.1%. The longer the loan term, the higher the rate, up to 27.8% for installments for two years. These are some of the most favorable rates on the Ukrainian market, especially in the context of ease of integration for you and use for the client.
If it is profitable to sell your goods in installments, be sure to add payment by installments from Monobank to your website. Your customers are guaranteed to appreciate at least the range of offers, and if there are users of this bank among them, they will choose this payment option.
Go to the dashboard on the Monobank website to see in real time what cardholders are spending their money on. They go grocery shopping and to cafes, pay for delivery services, mobile communications, utilities and subscriptions to entertainment services. They refuel their cars, call taxis and travel, and of course, they pay for equipment in installments. 10% of Monobank's customers use paid installments, and the total number of unique customers who have used installment payments since 2017 exceeds 700 thousand people. This number, as well as other numbers on the site, is constantly growing, so why not add a hundred or so of your customers to it, while improving the UX of the site or application.
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