Financing payment methods
Introduction
Montonio offers two financing payment methods: Hire Purchase and Buy Now Pay Later (BNPL). Both payment methods are provided in cooperation with Inbank. At the moment, financing is available in Estonia, Latvia and Lithuania.
Hire Purchase is a payment method that allows the customer to split the payment into multiple monthly instalments with interest. BNPL allows the customer to either pay the full amount next month, or split into 2 or 3 monthly instalments without interest and without the customer needing to sign a financing agreement.
Limits
Both Hire Purchase and BNPL have limits for minimum and maximum order amounts. Here is a breakdown of the limits:
Estonia and Latvia
| Payment method | Minimum order amount | Maximum order amount |
|---|---|---|
| Hire Purchase | 100 € | 5 000 € |
| BNPL (next month) | 30 € | 800 € |
| BNPL (2 parts) | 75 € | 2 500 € |
| BNPL (3 parts) | 75 € | 2 500 € |
Lithuania
| Payment method | Minimum order amount | Maximum order amount |
|---|---|---|
| Hire Purchase | 100 € | 5 000 € |
| BNPL (next month) | 100 € | 800 € |
| BNPL (2 parts) | 100 € | 2 500 € |
| BNPL (3 parts) | 100 € | 2 500 € |
For Hire Purchase, the customer can select a contract period from 3 to 72 months. The maximum order amount can be increased to 10 000 € upon request.
Integration
The integration of financing methods is straightforward. It requires you to integrate the regular payment flow with our API, as detailed in the Order creation guide, and then specify the payment method as either hirePurchase or bnpl in the payment.method field.
If the method is bnpl then a period parameter needs to be provided as well. This indicates in how many parts the payment is split. Valid periods are 1, 2, and 3. This value is provided as an integer.
An example of how the payment method is specified in the order creation request along with a BNPL period:
..."payment": { "method": "bnpl", "methodOptions": { "period": 1 }}If this is your first time integrating with the Montonio Stargate API, we recommend you to start with the Overview and Integration checklist pages to get a general understanding of the API and the integration process.
The Create and validate an order guide will guide you through the payment flow, while section 2. Payment method provides the details on how to specify the payment method.