Mokka, leading BNPL player in CEE, launches first virtual card with in-app shopping in Romania

Mokka, the leading BNPL and deferred payment company in CEE has announced the launch  of its Mastercard virtual card, which is available to Mokka customers in the Mokka mobile app, available for both Android and iOS. The virtual card expands Mokka’s popular product suite, which allows consumers to register instantly for the service, get an approved limit, defer payment for purchases in thousands of stores, get cash advances, and much more.

The Mokka virtual card is issued in partnership with DiPocket, a leading fintech specialized in card issuance and disbursements operating in the EU and UK. The virtual card can be used by Mokka customers in any stores where Mastercard is accepted and so expands the range of stores where consumers can use Mokka to pay for purchases in installments.  The virtual card can be uploaded into the GooglePay and ApplePay wallets to be used both in online and traditional stores.

Together with the Mokka virtual card, the company is also launching its unique in-app shopping experience, which allows merchants to promote themselves to Mokka customers and for consumers to shop at all major online stores without leaving the Mokka mobile application.

“The Mokka virtual card is fully integrated into the Mokka mobile app experience and our renewable advance limit, which dramatically simplifies paying for purchases.  With the Mokka virtual card we are delivering on our promise of making Mokka available for flexible installment payments at any store within seconds”, says Irene Shvakman, the company co-founder.

“We are truly excited to be the issuing partner for Mokka’s card programme, further broadening our participation in the development of the fintech market in CEE. DiPocket serves leading industry players like Mokka, providing embedded payment solutions to support innovative offers and foster consumer choice. We look forward to continuing our work with the Mokka team and to jointly achieve positive market impact”, says Fedele di Maggio, co-founder and CEO of DiPocket.

Not only is access to the virtual card instant for Mokka customers,  the product offers a number of other benefits for consumers  with one simple monthly subscription fee. The consumer can choose from a number of simple payment plans for repaying all purchases made with the virtual card, selecting from 3, 6, or 10 months, thus eliminating hidden interest and fees typically charged by traditional financing products.  All transactions with Mokka are repaid using one simple monthly billing date to avoid having customers needing to pay for different purchases on different dates during the same month.  Moreover, its possible now to shop with the virtual card right in the Mokka mobile app, so all the favorite stores are at the fingertips.

To gain access to the Mokka virtual card, consumers have to register with the service by downloading the app or by making a purchase at one of the company’s partner stores. The Mokka machine learning algorithm takes into account the customer’s shopping and payment behaviour and automatically increases her renewable advance and opens access to additional services like the virtual card in its mobile app.

About Mokka

Mokka is a top Buy Now Pay Later (BNPL) service operating in Poland, Romania, and Bulgaria, providing online and offline BNPL financing solutions for merchants and consumers. Mokka has developed innovative and flexible BNPL payment solutions, offering customers the option to buy now both online and offline and pay by choosing the most convenient payment plans, ranging from 30 days to 24 months.

Mokka has partnered with over 1,500 top retailers in the region across popular categories such as fashion, footwear, children’s items, electronics, jewelry, furniture, travel, and more. Merchants adopting this payment method experience higher conversion rates, an increase in average basket value, and appreciation in incremental sales, while simultaneously strengthening consumer loyalty.

In Central and Eastern Europe, Mokka collaborates with Lensa, Reserved, Boutique Mall Optiblu, F64, Somproduct, Aosom, CCC, Humanic, Office Shoes, Diverse, Savicki, W. Kruk, and many others. More details about the company are available at www.mokka.ro