FAQ – Montonio – Checkout orchestration for ecommerce

Bank payments

The Montonio payment solution enables online stores to accept payments from all major banks in Estonia, Latvia, Lithuania, Finland and Poland with a single integration. You can see the full coverage on our Payments page. You can also offer card payments to your customers using Montonio.

All payments made through Montonio are transferred directly from the customer's bank account to your bank account. You can issue a refund directly from your bank account. Currently, Montonio does not offer automatic refunds, but we are planning to have this feature in the future. If you are using Montonio's card payment feature, you can refund a payment through the Stripe dashboard.

When a customer is checking out on your store, they will be directed to the payment page. On this page, they can select their bank from the options provided and will be directed to the bank's website for authentication.

If the customer has multiple accounts with the selected bank, they will need to choose the correct account before seeing the payment details. If they only have one account, they will see the payment details immediately.

The customer will then confirm the payment and will be redirected back to your store.

To test the Montonio payment solution, you can sign up for our partner system at onboarding.montonio.com. You will then receive an invitation to log in to the partner system.

In the partner system, you will find sandbox API keys that you can use to test the payment solution on your store. Alternatively, you can test the payment solution in the Montonio Sandbox Store.

Yes, you can choose which countries and which banks you want to accept payments from.

Currently, the Montonio payment solution supports EUR payments in Estonia, Latvia, Lithuania, Finland, and PLN payments in Poland.

When a customer is checking out on an online store, they can select their bank from the options provided and will be directed to the bank's website for authentication.

If the customer has multiple accounts with the selected bank, they will need to choose the correct account before seeing the payment details. If they only have one account, they will see the payment details immediately.

The customer will then confirm the payment and will be redirected back to the store. The payment is transferred directly from the customer's bank account to the merchant's account.

Our bank payment links are highly reliable and have a proven track record of success. We work with major banks in Estonia, Latvia, Lithuania, Finland, and Poland to provide a seamless payment experience for customers.

Bank links refer to the method of payment that allows customers to make payments directly from their bank account through a secure link. Payment initiation refers to the process of initiating a payment from a customer's bank account.

With our bank payment solution, customers can use bank links to initiate a payment from their bank account and complete the payment process through our platform.

Payment initiation is a key feature of our bank payment solution, allowing merchants to accept payments directly from their customers' bank accounts.

Payments made through Montonio are transferred directly from the customer's bank account to the merchant's account.

Approximately 90% of payments are made as instant payments and will be completed in a few seconds.

When instant transfer is not possible, the money will be transferred as a SEPA payment every few hours on business days. Regular payments initiated during weekends and public holidays will be credited to the merchant's account on the next business day between 08:45-10:00.

For payments made through payment links, banks have a legal obligation to ensure that initiated payments cannot be cancelled.

Yes, our payment solution includes BLIK. Customers in Poland can use BLIK to make payments through our platform.

Card payments

In addition to payment links, Montonio also offers card payments (Mastercard and Visa) through the international online payment service provider Stripe. The pricing for card payments is the standard Stripe pricing:

For European Economic Area cards:
1.4% + 0.25€ (for EUR payments)
1.4% + 1zł (for PLN payments)

For UK cards:
2.5% + 0.25€ (for EUR payments)
2.5% + 1zł (for PLN payments)

For international cards:
2.9% + 0.25€ (for EUR payments)
2.9% + 1zł (for PLN payments)

Split – Buy now, pay later

You can test the payment flow for a customer using Montonio Split in the Montonio Sandbox Store. To do this, add a test product to the shopping cart and go to the checkout. Then enter your phone number and choose "Pay Later" as the payment method. The application form will then open. During the demo process, select "Smart ID" as the identification method and sign the contract (no actual contracts are signed during testing).

Montonio Split is currently available in Estonia.

To offer Split in your online store, you will need to sign the Montonio financing agreement. To do this, get in touch with your account manager at Montonio. Your account manager will send you a contract that should be digitally signed by a board member of the company. After this, we will send the necessary documents to our credit partners for confirmation. You will receive a notification once we have the confirmation and you can move forward with activating it in your store checkout.

The process usually takes 1-2 business days.

For the buyer:

If Montonio Split is activated in the online store checkout, "Pay Later" and "Pay in 3 Instalments" will be listed under the payment options next to the banks at the checkout. The buyer can choose whether to pay the entire purchase amount after one month or divide the cost into two or three equal instalments. They can then authenticate themselves in the Montonio environment, enter their income-related information, and sign the application. The transaction is now completed and the whole process takes only 1-2 minutes.

For the merchant:

The merchant signs a contract to use the financing service. When a customer pays for an order with Montonio Split, the order gets a "paid" status and can be shipped. The money will be transferred to the merchant's account on the following business day. When the customer wants to return the order partially or fully, a settlement is made with the merchant the following month.

Montonio Split is a payment solution that allows customers to pay for their purchases in up to 3 equal payments for no additional cost.

Montonio Financing is a hire purchase comparison solution where a lender, based on a personal financing agreement, provides the customer funds for the purchase and the customer makes scheduled payments to the lender to pay back the amount over an agreed period of time. Both solutions can increase the checkout conversion rate and average cart value.

For the merchant, the main difference is that Montonio Split comes with no additional cost to the customer, but the merchant pays a service fee of 2.4% of the order value. With Montonio Financing, the customer pays any and all fees that come with the personalised offer made by the financing creditor.

Montonio Split comes with zero charges or hidden fees for customers. The creditor is TF Bank, and the service fee of 2.4% of the order value applies to the merchant.

The money for a Montonio Split payment will be transferred to the merchant's account on the following business day.

Financing

Montonio Financing is a payment solution that allows customers to pay for their purchases in instalments over a set period of time.

The process is fully automated. When a customer chooses financing as their payment method at checkout, they will need to verify their identity and fill out a short application. The customer will receive a response from creditors within 18 seconds on average.

The financing solution is free of charge for the merchant and is risk-free, as the full amount of the order will be transferred to the merchant within 8 business days after the purchase has been made. The customer will then pay for the product directly to the bank according to their chosen payment schedule.

You can test the payment flow for a customer using Montonio Financing in the Montonio Sandbox Store. To do this, add a test product to the shopping cart and go to the checkout. Then enter your phone number and choose "Financing" as the payment method. The financing application form will then open. During the demo process, select "Smart ID" as the identification method and sign the contract (no actual contracts are signed during testing).

Here is an overview of the customer journey flow for using Montonio Financing:

1. The customer adds a product or products to their shopping cart and goes to the checkout.
2. The customer selects "Montonio Financing" as their payment method and proceeds to the application form.
3. The customer verifies their identity and fills out a short application.
4. The customer receives a response from creditors within 18 seconds on average.
5. If the application is approved, the customer signs the contract and completes the payment.
6. The merchant receives the full amount of the order within 8 business days.
7. The customer makes regular payments to the bank according to their chosen payment schedule.

To offer Montonio Financing in your online store, you will need to sign a financing agreement with Montonio. This contract should be digitally signed by a board member of your company. After signing the agreement, we will send the necessary documents to our credit partners for confirmation. Once we receive confirmation, we will notify you and you will be able to activate the Financing solution in your store using live API keys. The process of receiving confirmation typically takes 2-3 business days.

Please note that Montonio Financing is currently only available in Estonia.

Montonio Financing is a hire purchase comparison solution where a lender, based on a personal financing agreement, provides the customer funds for the purchase and the customer makes scheduled payments to the lender to pay back the amount over an agreed period of time.

Montonio Split is a payment solution that allows customers to pay for their purchases in up to 3 equal payments for no additional cost. Both solutions can increase the checkout conversion rate and average cart value.

For the merchant, the main difference is that Montonio Split comes with no additional cost to the customer, but the merchant pays a service fee of 2.4% of the order value. With Montonio Financing, the customer pays any and all fees that come with the personalised offer made by the financing creditor.

Montonio Financing is provided by a range of creditors in Estonia, including TF Bank, Placet Group, Bigbank, SVEA Finance, and Holm Bank.

When a customer chooses financing as their payment method at checkout, their application will be sent to all of these creditors for review and approval. If the application is approved, the customer will choose and sign a financing contract with one of the lenders and make regular payments according to their chosen payment schedule.

The money for the purchase will be transferred to the merchant's account within 8 business days after the purchase has been made.

The money for the purchase will be transferred to the merchant's account within 8 business days after the purchase has been made.

Shipping

Montonio Shipping is a feature that is built into the Montonio for WooCommerce plugin. It is available for ecommerce sites running on WooCommerce (WordPress). If you are already using the Montonio for WooCommerce plugin, you can contact us to have Shipping activated for your store.

Here is an overview of how the shipping flow for a customer would look like in your checkout if you are using Montonio Shipping:

1. The customer adds a product or products to their shopping cart and goes to the checkout.
2. The customer enters their shipping information and selects a shipping method from the options available.
3. The available shipping methods will include the providers that you have chosen to offer through Montonio Shipping (Omniva, DPD, and/or Itella).
4. The customer selects their preferred shipping method and proceeds to the payment page.
5. The customer completes their payment and confirms their order.
6. The merchant processes and ships the order to the customer using the selected shipping provider.

Yes, you can choose which shipping providers to offer to your customers with Montonio Shipping. Currently, the plugin is available for Omniva, DPD, and Itella. You can select one or more of these providers to add to your shipping methods.

Getting started

To sign up to use Montonio, follow these steps:

1. Go to onboarding.montonio.com.
2. Fill in the necessary details and upload any required documents.
3. Submit the application.

Once your application is submitted, it will be reviewed and processed by the Montonio team. You will receive a notification email once your application has been approved, at which point you will be able to start accepting payments using Montonio. You will also receive sandbox API keys that you can use to test the payment solution in a test environment.

The approval process for your application to use Montonio typically takes 1-2 working days. You will receive a notification email once your application has been approved, at which point you will be able to start accepting payments using Montonio. However, you will be able to test the payment solution using the sandbox API keys that you receive upon submission of your application, even before your application is approved.

Yes, you can sign up multiple stores under one company account with Montonio. To do this, follow these steps:

1. Log in to your account in the Montonio Partner system.
2. Click on "Stores" on the left side of the screen.
3. Click on "Create store" to add a new store to your company account.
4. You can repeat this process to add as many stores as you need to your company account.

To see a summary of your store's payments using Montonio, follow these steps:

1. Log in to your account in the Montonio Partner system.
2. Click on "Payments" on the left side of the screen.
3. You will see a summary of your store's payments, including details such as the payment amount, payment method, and payment status. You can use the filters and sorting options at the top of the page to narrow down the payment summary to specific time periods or payment types.

Onboarding

Here are the onboarding steps for the Montonio payment solution:

1. Fill in the application form at onboarding.montonio.com
2. Upload necessary documents, including an extract from the enterprise registry and articles of association.
3. After submitting the form, you will receive an invitation to login to the Montonio Partner system and verify your identity.
4. Follow the instructions in the invitation email to verify your identity using SmartID, Mobile ID, an ID card, or Veriff.
5. Once your identity has been verified, Montonio will review your application and provide you with an update on the status of your application. If your application is approved, you will receive a notification email and can start using the Montonio payment solution.

Please note that as a licensed payment institution in the Republic of Lithuania, Montonio is required to comply with Lithuanian Money Laundering Prevention regulations, which may require additional information about your business details.

Montonio offers several options for verifying your identity during the onboarding process. These options include using SmartID, Mobile ID, or an ID card. You can also choose to use Veriff, a global identity verification service company that uses artificial intelligence to analyse a variety of technological and behavioural indicators, including facial recognition, to verify a person's identity.

Veriff is a global identity verification service company that helps online businesses to mitigate fraud attempts and ensure regulatory compliance. Founded and headquartered in Tallinn, Estonia, Veriff uses artificial intelligence to analyse various technological and behavioural indicators, including facial recognition, to verify a customer's identity automatically.

During the onboarding process, you will need to provide all the necessary information requested in the registration form. This may include your personal and business details, such as your name, contact information, and the nature of your business.

Additionally, as a licensed payment institution in the Republic of Lithuania, we are required to comply with the Lithuanian Money Laundering Prevention and may ask for additional information about your business for compliance purposes.

A beneficial owner is an individual who ultimately owns or controls more than 25% of a company's shares or voting rights, or who otherwise exercises control over the company or its management. This may include shareholders, directors, and other key decision-makers within the company.

Integration

Montonio has plugins available for a range of popular ecommerce platforms, including WooCommerce (WordPress), Prestashop, and Magento. You can find a full list of our plugins on our Integrations page.

If you have a custom solution for your online store, you can use the Montonio API to integrate with our payment solution. Full documentation for the API is available on our Integrations page.

Yes, you can do a custom integration with Montonio using our API. Full documentation for the API is available on our Integrations page. You can also find plugins and integration instructions for popular ecommerce platforms on that page.

You can find your API keys in your account in the partner system under the "Stores" menu.

Integrating with Montonio is generally quick and easy. For popular ecommerce platforms, you can simply install a plugin and the integration should be completed in a few minutes.

For custom solutions, you can use the Montonio API to integrate with our payment solution. The time required for a custom integration will depend on the specifics of your solution and the complexity of the integration. Full documentation for the API is available on our Integrations page to assist with the process.

Pricing

Montonio has a fixed fee of 0.05€ + VAT per bank payment transaction.

Up to 100 transactions per month
If you have up to 100 bank payments per month, only a minimum monthly fee of 5€ + VAT applies. Each additional payment beyond 100 is 0.05€ + VAT. For example, if you have 90 bank payments in a month, only the minimum monthly fee of 5€ + VAT applies.

More than 100 transactions per month
If you have over 100 bank payments per month, the fee of 0.05€ + VAT per bank payment applies. For example, if you have 200 bank payments in a month, the fee would be 200*0.05€ = 10€ + VAT.

Card payments are subject to the standard Stripe pricing:

For European Economic Area cards: 1.4% + 0.25€ (for EUR payments) 1.4% + 1zł (for PLN payments)

For UK cards: 2.5% + 0.25€ (for EUR payments) 2.5% + 1zł (for PLN payments)

For international cards: 2.9% + 0.25€ (for EUR payments) 2.9% + 1zł (for PLN payments)

Montonio Split is free for your customers and does not include any interest, administrative fees, or hidden costs. However, as the merchant, you will be charged a 2.4% service fee on each order by the financing provider, TF Bank.

There are no fees for merchants using Montonio Financing. Creditors will offer financing to your customer based on the information provided, and all subsequent transactions are handled directly between them.

No, we do not automatically deduct payment fees.

You will receive the full amount for your goods or services directly to your bank account from your customer's bank account. At the beginning of the following month, you will receive an invoice for the payments made during the previous month based on the number of payments received.

No, there is no sign-up fee or any hidden costs.

No, we do not charge a separate monthly fee.

However, there is a minimum monthly bill of 5€ + VAT if you have less than 100 payments per month, and 0.05€ + VAT for each additional payment. For example, if you have 90 payments per month, the minimum monthly invoice of 5€ + VAT applies. If you have 200 payments per month, the invoice would be 200*0.05€=10€ + VAT.

No, there is no cancellation fee.

No, foreign payments are not more expensive.

Our payment service is provided through the innovative payment initiation service created by the Second Payment Services Directive (PSD2). In the case of traditional bank links, banks charge payment service providers a commission. They cannot charge a commission for the payment initiation service. Demand for our service is also on a strong growth trend, which allows us to offer competitive pricing to our merchants.

Payouts

There is no system for withholding funds from our side for these types of payments. Instead, the end-consumer pays the merchant directly.

Approximately 90% of payments are made as instant payments and will be completed in a few seconds. When instant transfer is not possible, the money will be transferred as a SEPA payment every few hours on business days. Regular payments initiated during weekends and public holidays will be credited to the merchant's account on the next business day between 08:45-10:00.

For Montonio Split, we do payouts on the following business day after the purchase.

For Montonio Financing, we do payouts within 8 business days after the end-consumer has signed an agreement. These payouts are for the full amount of the purchase.

To receive payments through Montonio, you simply need to provide your bank account information in your Montonio account settings. When a customer makes a bank link payment using Montonio, the funds will be transferred directly to your bank account. Montonio does not hold onto any funds or act as an intermediary for these payments.

To ensure that you receive payments efficiently, it is important to keep your bank account information up to date in your Montonio account. If you need to update your bank account information, you can do so through the account settings in the partner system

Accounting

Yes, you can export transaction statements from Montonio. To do this, follow these steps:

1. Log in to your account in the Montonio Partner system.
2. Click on "Payments" on the left side of the screen.
3. Click on "Statements" on the right side of the screen, above the payment summary.
4. Select the time period for which you want to export a statement.
5. Click on the "Download" button to download the statement as an Excel file.

This will allow you to access a detailed record of your store's payments made through Montonio, which you can use for accounting or other purposes.

About Montonio

There are several reasons why you should choose Montonio's payment options for your online store:

1. Wide range of payment options: Montonio offers a variety of payment options, including bank payments, card payments, Split financing, and Financing. This allows you to offer your customers a range of payment options, increasing the chances that they will complete their purchase.

2. High conversion rate: Montonio's payment solution is designed with a high conversion rate in mind, and merchants using Montonio have reported conversion rates as high as 99%.

3. Low fees: Montonio's fees are competitive and transparent, with no hidden costs or cancellation fees.

4. Data security: Montonio takes data security seriously and follows data security rules based on ISO 27001.

5. Customer support: Montonio provides excellent customer support to help merchants with any issues or questions they may have.

Overall, Montonio's payment options offer a convenient, reliable, and cost-effective way for merchants to accept payments from their customers.

Yes, our payment options are secure and trustworthy and already trusted by over 5,000 merchants. We prioritise data security and follow the rules outlined in ISO 27001. Our data security is also regularly audited by specialised IT auditors to ensure its integrity.

Montonio's solutions are trusted by over 5,000 ecommerce businesses across the Baltics, Finland, Poland, and Germany.

There are several reasons why merchants choose Montonio over other payment providers. We offer competitive pricing, excellent customer support, and a commitment to constantly improving and finding the best solutions for our merchants to grow their business.

Our team consists of more than sixty people and we operate in all of the Baltic countries, Poland, Finland, and Germany.

You can contact us by email at support@montonio.com or by phone at one of the following numbers:
🇪🇪 +372 5333 4770
🇱🇻 +371 66778881
🇱🇹 +370 684 98741
🇷🇺 +372 5383 6272

Our customer support team is available 9:00-17:30 on weekdays.

Legal & security

A high level of data security is our top priority at Montonio. We follow the data security guidelines based on ISO 27001, and our data security is regularly audited by specialised IT auditors to ensure the safety and protection of our customers' data.

Yes, our payment service is insured with a liability insurance contract worth 1.5 million euros from one of the largest insurers in Europe with an excellent Standard & Poor's rating of A. This liability insurance covers potential claims related to security incidents and fraud, among other things.

Payment initiation services at Montonio are provided by Montonio Finance UAB, a Lithuanian limited liability company with registry code 305205122 and address Konstitucijos 7, Vilnius, Lithuania. We hold a payment institution license, No LB002007, issued by the Bank of Lithuania.

You can find our terms of service at the following link: https://montonio.com/legal/terms-of-service-pis/. Please make sure to review and understand these terms before using our services.

We prioritise the protection of our customers' data at Montonio. We follow data security guidelines based on ISO 27001 and regularly audit our data security with specialised IT auditors to ensure the safety and protection of our customers' data.

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Frequently Asked Questions

Hello! How can we help?

What payment options can I offer to my customers with Montonio?

How can I refund an order to my customer?

What is the customer journey flow for making a payment through Montonio?

How can I test the Montonio payment solution?

Can I choose which banks or payment options to show in my checkout?

Can I accept payments in other currencies with Montonio?

How do bank payments work?

What is the reliability of the Montonio bank payment links?

What is the difference between bank links and payment initiation?

How often are payouts made with Montonio?

Can customers cancel their payment when using Montonio?

Does Montonio offer BLIK?

Does Montonio offer card payments?

How can I test the payment flow for a customer using Montonio Split?

How can I add Montonio Split to my store?

What is the customer journey flow for using Montonio Split?

What is the difference between Montonio Split and Montonio Financing?

Whose money is used for Montonio Split payments?

When do I receive the money for a Montonio Split payment?

How does Montonio Financing work?

How can I test the payment flow for a customer using Montonio Financing?

What is the customer journey flow for using Montonio Financing?

How can I add Montonio Financing to my store?

What is the difference between Montonio Financing and Montonio Split?

Who provides Montonio Financing?

When do I receive the money for a Montonio Financing payment?

How can I add Montonio Shipping to my store?

How would it look like in my checkout?

Can I choose which shipping providers to offer to my customers with Montonio Shipping?

How do I sign up to use Montonio?

How fast can I start accepting payments using Montonio?

Can I sign up multiple stores under one company account with Montonio?

Where can I see a summary of my store's payments?

What are the onboarding steps for Montonio?

What are the options for verifying my identity?

What is Veriff and why should I trust them?

What information do I need to provide during the onboarding process?

Who is considered a beneficial owner?

What platforms can I integrate with using Montonio?

Can I do a custom integration with Montonio?

Where can I find my API keys for Montonio?

How long does it take to integrate with Montonio?

What is your pricing for bank payments?

What is your pricing for card payments?

What is your pricing for Montonio Split?

What is your pricing for Montonio Financing?

Will you deduct your payment fees automatically?

Is there a sign-up fee?

Do you have a monthly fee?

Is there a cancellation fee?

Are foreign payments more expensive?

How can Montonio’s fees be so low?

How often do you do payouts?

How do I receive payments?

Can I export transaction statements from Montonio?

Why would I choose Montonio’s payment options?

Can I trust your payment solution?

How many ecommerce businesses use Montonio?

How are you better than other payment providers?

Who are the people behind Montonio?

How can I get in touch?

How safe is to use Montonio?

Is your payment service insured?

Under what licence do you provide your services?

What are the terms for using Montonio’s services?

How is my data protected and used?

Do you have POS terminals?

How can I add your logo to my store?

What is your payment conversion rate?

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