Increase your online sales with installment purchases from Monobank

  • 9.6.2023
  • Written by Vladyslava Rykova
  • Category: Business

Monobank is a popular Ukrainian bank that works mainly online and offers the service Purchase in parts. This is an installment payment that allows buyers to spread the cost of the product over several payments without additional interest. This “fondy acquiring + monobank” service is available to Fondy merchants at a special rate of 0.3%.

Why is buying in installments from Monobank attractive to customers?

Monobank is a bank in your smartphone that makes life easier. Everything is online, a convenient interface, generous cashback from stores for customers and many online services for entrepreneurs, including installments with transparent tariffs without acquisition fees. More than 7 million users already have a Monobank card, and each of them can become your client.

The benefits of buying in parts for your business

  • Brand recognition: Monobank’s paw is known to many, so customers of your online store are guaranteed to notice it among other payment methods.
  • Transparent conditions: Tariffs for business, the size and schedule of payments are clear to everyone in advance, there are no Monobank fees for online acquiring and hidden conditions.
  • Increased sales: with a partial purchase from Monobank, your products will become available to more customers, and therefore, the profit from the business will increase.
  • Customer Loyalty: By giving your customers the opportunity to pay for online purchases in a more convenient way, by breaking the total cost into a convenient number of payments, you increase their loyalty to your business.

How it works for the buyer

  1. The client selects a product and goes to the payment page to place an online order.
  2. Among the available payment methods, the customer sees the option Buy in installments from Monobank and clicks on it.
  3. The client indicates the number of payments and his financial phone number to which the bank card is linked.
  4. The client familiarizes himself with the terms of the installment plan and confirms it online in the Monobank mobile application.

How to connect Purchase in installments from Monobank

  1. You connect the purchase in installments from Monobank to your store by leaving a request to the Fondy support service at the office. site
  2. This payment method, along with others, becomes available to your customers on the payment page when placing an order.
  3. After the purchase, Monobank transfers to Fondy the full purchase price minus its non-acquiring commission.
  4. Fondy credits this amount to your merchant account and then refunds you minus its non-acquiring fee.

Connecting to Monobank Installment Purchase can be an important step to increase sales and improve the experience of your customers. Contact Fondy Support to learn more and start the connection process.

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Vladyslava Rykova

Expert in legal marketing. Head of marketing agency MAVR.

Business degree “Master of Business Administration” (MBA).

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