Buy now, pay later leading CEE fintech service Mokka enters Bulgaria

The leading player in the Buy Now, Pay Later services in Central and Eastern Europe, Mokka announces its entry into the Bulgarian market. Present in Poland, Romania and Bulgaria, Mokka is a fintech service that allows shoppers to instantly defer payments for their purchases in thousands of online and offline stores.

“Buy now, pay later” services are becoming increasingly popular worldwide among leading merchants and younger active consumers. We are excited to add Bulgaria to our family, where we see a huge opportunity to transform shopping, offering a better and more flexible alternative payment method for shoppers. Buy now, pay later provides clear benefits for retailers by increasing shopping carts, conversion and repeat purchases, as well as reducing returns and the use of cash on delivery, says Irene Shvakman, co-founder of Revo Technologies.

Bulgaria is the third country Mokka has chosen for its expansion in CEE, after Poland and Romania. The group has established partnerships with hundreds of leading merchants in categories such as fashion, footwear, jewelry, kids, sports, health and beauty, travel, home decor, DIY, electronics and more. Mokka offers its partners a flexible omnichannel solution with an adaptive checkout that allows shoppers to defer payments for both small and large purchases and choose a convenient payment plan from 1 to 24 months. The company is now in talks with leading Bulgarian merchants and e-commerce platforms to launch its offerings in the country in the first quarter of 2023.

“We are moving forward in negotiations with many leading Bulgarian and international merchants to add Mocha to their stores in this market. Millions of consumers in Poland and Romania, especially younger millennials, have embraced this way of paying for their shopping. We want to build on on this experience in Bulgaria and other markets in the region”, commented Marius Costin, regional managing director of Mokka.

The group has made it easy for sellers to integrate their services. It has developed plug-ins for many leading e-commerce platforms. These include WordPress, Opencart, VTek, Gomag, Shopify and others. The company’s technology is multi-channel, so merchants can offer Mokka’s Buy Now, Pay Later service both in their brick-and-mortar stores and online, including in their mobile apps. Financing offers and payment plans can be adapted to each individual seller’s needs. Experience from other markets shows that when they shop with Mokka, buyers shop larger and more frequently, which increases shopping baskets and in-store sales. In addition, offering a “Buy Now, Pay Later” solution reduces the need for collection, which is very expensive for sellers, as buyers can receive their items before paying, while sellers reduce shipping and return costs.

Unlike traditional financial products currently offered on the Bulgarian market, Mokka also offers important advantages to shoppers, who do not need to go to a bank, fill out long forms or wait for approval or a card. Mokka’s platform enables immediate registration of any shopper in less than 2 minutes directly in partner stores or through the mobile application. After registration, the customer can immediately make purchases while paying for them later.