More than 65% of Baltic shoppers have a preference for paying through online banking, which has become the dominant payment method in the region. However, only around 20% of them have a credit card – roughly 17% of Lithuanians and Latvians, and 29% of Estonians – bringing limitations to consumers in terms of shopping on international ecommerce platforms, as well as restricting market access for international merchants.
One way to address this issue is by offering a payment method, specifically tailored for the region, so Nikulipe undertakes the issue that the Baltics are facing, by launching a new product. Banklinq will be the first local payment method to address regional complexities by combining the local know-how and global experience, helping international merchants become more familiar with and trusted by local shoppers, paving the way to access new user markets.
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