Six Romanian retailers introduce Mokka’s “Buy Now, Pay Later” financing option
Bucharest, 27 May 2021 – Revo Technologies, the leading CEE-based fintech operating under the Mokka brand, announces the launch of its partnerships with six online and offline retailers. As of June 2021, the Mokka’s “Buy Now, Pay Later” service is available for Romanian customers shopping in Mobexpert and Ideall.ro online store, as well as in CCC, Noriel, Lensa and Humanic brick and mortar stores.
“2020 has shown us that it is extremely important to offer our customers an extraordinary experience in the online environment and at the same time a fast solution for both delivery and payment. So, the proposal of our partners from Revo Technologies came at the right time. We are happy to be among the first to implement the Mokka service – Buy now, Pay later – being the first to launch such a quick financing solution in Romania. So, from now on, Mobexpert customers can buy their favorite products online with the possibility to pay in installments, with Mokka, obtaining instant approval,” stated Adelina Badea, CEO, Mobexpert.
Mobexpert, CCC, Noriel, Lensa, Humanic and Ideall.ro are the first retailers to partner with the fintech as additional merchants from fashion, footwear, sports and beauty sectors are preparing to roll out Mokka in the coming months. By the end of 2021, the Company aims to have over 500 partners in its network in Romania alone. In 2020, Revo financed purchases with total value of over 100 million US dollars in 7,100 online and offline stores across Eastern Europe and had more than 5.5 million registered customers.
“We are thrilled to introduce the Mokka solution in the first stores in Romania, where retailers and consumers are very interested in alternatives to traditional banking. We welcome our first partners to Mokka’s merchant network, and we salute them for being the innovators in introducing this service. Our experience in Poland and other CEE markets shows that merchants capture incremental sales with Mokka in both online and offline stores. Our technology is well suited to work with merchants in any channel, and our Bucharest team is ready to onboard over 500 new partners in the course of this year, in order to offer the most seamless shopping experience,” said Irene Shvakman, the co-founder of Revo Technologies.
Mokka’s solution allows consumers to purchase products and services and to pay for them later, on attractive terms based on a beneficial payment plan. Unlike traditional banking products, Mokka’s service is fully digital. The consumer does not need to apply for a credit card and does not need to bring any card to the store to make a payment. With Mokka’s rapid registration process, clients can access the service and make purchases instantly in any of Mokka’s partner stores. All that is needed is a mobile phone and a Romanian ID card. The process of shopping with Mokka is fast, paperless, and without hidden charges. Consumers have a variety of payment plans to choose from and the repayments are free of charge and can be done by card, bank transfer and via SelfPay payment terminals.
“With Mokka, merchants address the needs of younger shoppers, who are looking for convenience and value and who are not happy with the customer experience offered by banks. Mokka provides a variety of payment plans, ranging from one month to 24 months, giving shoppers much-needed flexibility. With a 5.5 million strong customer base and millions of purchases financed, we have honed our products and algorithms to deliver high conversion and approval rates for merchants. This allows us to approve and convert more shoppers and give merchants higher sales results,” added Stefan Vargolici, Country Manager for Revo Technologies Romania, in charge of launching Mokka on the Romanian market.
In the past 5 years the adoption of “Buy Now Pay Later” service by merchants has grown rapidly around the globe because it attracts younger Millennial and GenZ shoppers as well as contribute to increasing the average shopping cart value. Mokka is the first “Buy Now, Pay Later” solution available to Romanian merchants. Revo’s solution is easily integrated in online stores and physical stores, with plug-ins and APIs.
About Revo Technologies
Revo Technologies is a leading CEE fintech company, present in Poland, Romania and Russia, specialized in “Buy Now, Pay Later” financing solutions for online and offline merchants and service providers, marketed under the “Mokka” brand. Revo’s solution is currently available in 7,100 stores across the region and has more than 5.5 million registered users. Revo has developed a full range of tech solutions for merchants both online and offline. The solution helps merchants increase sales by increasing traffic, conversion, average cart value and frequency of purchases. Since its establishment in 2013, Revo Technologies has raised over 50 million dollars in equity and debt financing with leading technology investors. www.mokka.ro