According to Inbank’s data, BNPL usage has surged this year, particularly in the so-called “universal category,” including stores and e-commerce platforms offering products across various categories with higher average shopping cart value. “We’ve seen notable growth in BNPL among online retailers like Kaup24, Hansapost, and Frog,” says Birgit Listmann, Inbank’s Partner Channel Manager. “Collaborations with providers like Montonio have further expanded the availability of BNPL options, especially during peak shopping periods like Black Friday and Christmas.”
Flexible payments for big-ticket items
Statistics from Montonio reveal that BNPL is particularly popular for high-cost purchases like home appliances, furniture, fashion, and even educational courses or medical and cosmetic treatments. “While certain product categories are more common, the real driver of BNPL adoption is the shopping cart size,” explains Artur Rihvk, Montonio’s Product Manager. “The bigger the cart, the more likely consumers are to opt for flexible payment options.” Despite BNPL’s rising popularity, traditional bank payments remain overwhelmingly popular among Estonian consumers. According to Rihvk, around 80-85% of all transactions are still made using bank payments, with 10-12% via card payments, and BNPL or installment plans make up around 2-3%. Apple Pay and Google Pay now account for over half of all card transactions. Looking ahead, Rihvk anticipates continued growth in the adoption of flexible payment solutions. “Merchants are expanding their payment offerings, and in sectors like home furnishings, BNPL could soon account for over 10% of transactions,” he predicts. Interestingly, credit card usage has also risen this year, according to Montonio’s statistics, but not necessarily due to economic pressures. “It’s more about convenience and security,” says Rihvk. “Credit cards typically offer purchase protection, which appeals to consumers who want immediate access to goods without compromising safety.”
Seasonal factors in payment solution usage
Seasonality plays a key role in BNPL adoption. Listmann notes, “Electronics purchases peak during the graduation and back-to-school periods in June and August, while gardening-related BNPL usage spikes in spring. Similarly, home furnishings see their highest BNPL sales in March and April.” Another area experiencing rapid growth this year is health and wellness, with BNPL usage in this category increasing 3.8 times compared to last year. “We’re seeing more people use flexible payments for services like dental care, beauty treatments, and private clinic visits,” adds Listmann.
