Mokka is the leader on this segment in Central and Eastern Europe (CEE), which allows customers to buy instantly and pay for the products or services on their own, favourable terms. In 2019 alone, Revo financed over 750,000 purchases in more than 7,000 online and offline stores across Eastern Europe.
“Buy Now Pay Later” services are growing in popularity across the globe with leading merchants and younger, active consumers. We are excited to be the first fintech to introduce this service in Romania, where we see a tremendous opportunity to transform the shopping experience, offering a better alternative to traditional banking products. Penetration of financing offers among consumers in Romania is relatively low, and there is a strong demand for alternatives to banks that fall short on customer experience and access, particularly when it comes to younger consumers. In addition, a service like ours brings clear benefits for retailers that want to increase shopping basket, conversion and loyalty, as well as reduce reliance on the costly cash-on-delivery payments,” stated Irene Shvakman, the co-founder of Revo Technologies.
Romania is the third country of expansion for Revo, which already operates in Poland and Russia, where it has over 4.5 million registered customers. Revo has built partnerships with hundreds of leading merchants in categories such as fashion, footwear, jewellery, kids, sports, health and beauty, travel, home decorations, DIY, electronics and others. Revo offers partners a flexible omnichannel technology, making it easy for them to onboard and offer their shoppers a way to postpone payment for their purchases.
The Mokka platform allows instant registration of any customer online or through its mobile application available directly in partners’ stores. After registration, the shopper can immediately make purchases, while paying for them later with a simple monthly payment plan. Mokka clients do not need any payment cards, as all the transactions are made digitally, through the platform.
“We are in advanced talks with many leading Romanian retailers and service providers to allow a fast launch this year. In Poland and Russia, millions of our users, particularly younger millennials, have embraced the ease and convenience of this way of purchasing and now look for it at their favourite check-outs. We want to build on this experience in Romania and other CEE markets,” stated Stefan Vargolici, Country Manager for Revo Technologies Romania, in charge of launching Mokka on the Romanian market.