Money seems to have slipped through our fingers. We withdraw it less and less from ATMs, and even less often at checkout counters. We’ve quickly transitioned from cash to cards, and it seems we’ll transition even faster to digital wallets. According to data from the leading payment processor in Croatia, one in ten cashless transactions is made through a wallet on a mobile phone or another gadget. All generations, especially the younger ones, prefer the latest market solutions – from digital wallets to self-checkout systems. And this, emphasizes Robert Penezić, co-founder of the Money Motion conference and board member at Monri Payments, represents a huge potential for many small and medium businesses nationwide.
Ahead of the upcoming edition of the largest FinTech conference in the region, which will be held on March 27-28 at the Zagreb Fair, we spoke with him. Besides the main reasons why everyone should attend Money Motion, he also shared how small businesses can fully leverage the potential of new payment solutions on the market.
The third edition of the Money Motion conference is fast approaching, and this year you’ve announced over 100 speakers. Why should the average entrepreneur be interested in attending this conference?
The Money Motion conference isn’t just a platform for exchanging ideas among financial and technology leaders—it’s also an opportunity for every entrepreneur to learn firsthand how the latest trends in payment technologies, digital banking, and FinTech innovations can improve their business.
With over 100 speakers—industry experts—attendees will gain insight into concrete strategies for optimizing operations, enhancing the customer experience, and increasing transaction security and efficiency. Additionally, the conference offers a unique networking opportunity with potential partners, investors, and clients, which can be crucial for business growth and development.
In today’s dynamic business environment, adapting to new technologies is essential. The Money Motion conference provides answers to the question of how to stay competitive in times of rapid change, making it an unmissable event for every forward-thinking entrepreneur.
You’ve built your career in FinTech and actively participate in developing new solutions. Are there more rules, and how quickly are work methods and processes changing in this industry?
The FinTech industry is one of the most dynamic sectors—changes happen quickly, and rules constantly adapt to new technologies, regulations, and user expectations. Payment processes used to be relatively simple, but today, we have an ecosystem where security, user experience, and integrating different digital solutions are key success factors.
The speed of change depends on several factors including technological innovations, legislative frameworks, and market demands. The rapid advancements in AI and blockchain open up new possibilities. What we considered an innovation yesterday is already a standard today.
That’s why continuous investment in development and flexibility is crucial. Companies that follow trends, adapt quickly and offer secure, efficient, and intuitive solutions have the opportunity to set standards and shape the industry’s future.
With over 2,500 attendees at the Money Motion conference, what networking strategies would you recommend for finding business opportunities?
Networking at a conference like Money Motion can be extremely valuable for entrepreneurs. Proper preparation is the key to success. This year, we’ve made it easier with the MoMo app, facilitating participant search and connections.
Actively participating in panels and discussions also opens up opportunities for conversations with relevant individuals. Asking questions during presentations is an excellent way to get noticed by potential collaborators and highlight shared interests. Informal chats during breaks and evening events often lead to the most valuable business connections, so making the most of those opportunities is important.
For effective networking, it’s essential to be clear and concise when presenting your business. A short and clear explanation of what you do and how you can contribute to potential partners can significantly increase your chances of continuing the conversation. After the conference, maintaining contact through email, LinkedIn, or scheduling further meetings is crucial. The actual value of such events lies in the long-term relationships built, not just the initial meeting.
How does the choice of payment solutions affect small and medium-sized businesses’ financial stability and sustainability?
Choosing the right payment solution can significantly impact the financial stability and long-term sustainability of small and medium-sized businesses in Croatia. Efficient and reliable payment systems enable faster collection, reduce operational costs, and improve cash flow management—key factors for stable business operations.
Based on our experience with Monri’s customers, I can confidently say that using modern payment solutions, such as Monri’s SinglePOS and online payments, helps entrepreneurs improve their businesses. Faster transaction processing means better liquidity, facilitating cost planning, investments, and business expansion. Integrations save time, reduce errors, and digitize the entire business, giving entrepreneurs more time—something we’re all short on—to focus on other essential tasks. Monri’s advanced security features also help reduce the risk of fraud and financial losses.
Given the growing trend of online shopping and business digitalization, entrepreneurs who adapt their payment solutions to new consumer habits can gain a significant competitive advantage. Offering easy and secure payment methods, including mobile and contactless payments, enhances the customer experience and increases customer loyalty, contributing to the business’s long-term sustainability.
Choosing the right payment solution is not just a technical issue, but a strategic decision. By using flexible and reliable solutions, entrepreneurs can optimize costs, increase revenue, and ensure stable growth in challenging market conditions.
Which payment processing innovations would you recommend to merchants in order to remain competitive and improve business performance?
Monri Payments offers everything in one place—from cashier software and the popular SinglePOS for card payments to modern online payment solutions for webshops and apps.
Our SinglePOS, already used by several large merchants in Croatia, has proven to save cashiers time while reducing customers’ time at the checkout. This is even more pronounced with self-payment options using SinglePOS and self-service checkout stations.
Additionally, SinglePOS supports various payment methods, and according to our data, every tenth transaction on Monri’s POS terminals in Croatia in 2024 was paid via a digital wallet rather than a physical card. Speed, seamless payment processes, and undeniable security are features today’s customers not only expect but take for granted, especially the GenZ generation.
What would you advise entrepreneurs when it comes to adopting new payment technologies and negotiating with service providers?
I would advise entrepreneurs not to be afraid of adopting new payment technologies, as they bring significant advantages in terms of efficiency, security, and competitiveness in the market. It’s crucial for entrepreneurs to recognize the importance of digitalization and adapting to modern payment methods that provide users with a simpler, faster, and safer way to make transactions.
When it comes to negotiations with service providers, I recommend that entrepreneurs be thorough in analyzing their needs and business objectives. It’s important to understand which type of payment solution best suits the specifics of their business, whether it’s POS terminals, online payments, fiscal cash registers, or other technologies. Negotiating flexibility, scalability, and future growth of services is also key, as the market is changing rapidly, and the ability to adapt to new requirements becomes essential for long-term success.
Monri is an incredible success story in the region. It’s a serious FinTech scale-up that has become one of the leading payment service providers in the region in just seven years.
Monri Payments has become a true leader in the card payment processing industry and developing advanced fiscal cash register solutions. The success we celebrate today results from incredible growth and hard work from our entire team. We proudly say that we’ve become a regional player with a presence in seven countries: Croatia, Bosnia and Herzegovina, Serbia, Slovenia, Montenegro, Albania, North Macedonia, and Romania. Our company is headquartered in Zagreb, Sarajevo, and Belgrade, but our products and solutions are recognized in many other markets.
Today, we have over 160 talented employees working from seven different locations or remotely, and we proudly serve over 15,000 clients in the region. Our impressive portfolio includes over 8,000 fiscal cash registers, 13,000 POS terminals, and 2,000 handheld terminals for waitstaff. Our online payment solutions are used by over 10,000 merchants on webshops and apps, and we process over 600,000 card transactions and print over 800,000 receipts on our cash registers every day.
These results are no accident—they are the result of the integration of four companies that shaped Monri into what it is today: a company with incredible technological capabilities and a portfolio that includes complementary products and competitive products within the same categories. With our connection to the ASEE/Payten group, we aim to expand our services to additional EU markets and globally. Our vision of global presence has never been closer.
Your solutions are highly popular among small and medium-sized hospitality and retail businesses. How do you tailor your services to meet their needs?
At Monri, we are proud that our solutions are extremely popular among small and medium-sized hospitality and retail businesses because we understand their specific needs. Our service is designed to be flexible, affordable, and easy to use, with an emphasis on minimal infrastructure and training investment.
POS terminals and fiscal cash registers are intuitive and allow for quick training, while our online payment systems easily integrate with webshops and applications. Additionally, we offer continuous technical support, ensuring our clients can quickly resolve any challenges.
Over the years, we have seen a steady increase in cashless transactions and the average number of cards in wallets. How does this impact small businesses and their readiness to implement new payment solutions?
The growth of cashless transactions and the increase in the number of cards in wallets have a significant impact on small businesses. As consumers increasingly prefer digital payments, companies that do not accept these methods may lose customers and find themselves at a competitive disadvantage. Fortunately, implementing new payment solutions is becoming simpler and more affordable, lowering the initial barrier for smaller businesses.
Many realize the importance of adapting to modern technologies, as cashless payments enable faster transactions, greater security, and easier business tracking. For smaller businesses, this also means a better customer experience, which can help retain existing customers and attract new ones.
How does adopting FinTech solutions in Central and Eastern Europe compare to other regions, and what opportunities does it open for local entrepreneurs?
The adoption of FinTech solutions in Central and Eastern Europe is growing, but it still lags behind more developed regions like Western Europe or the United States. However, Croatia is quite advanced in the region. By introducing innovative FinTech solutions, entrepreneurs can improve their business, enhance the customer experience, and optimize processes such as payments and transaction processing. Investing in payment systems also offers flexibility and the opportunity to access larger markets, opening up new growth opportunities.
Originalni članak: Mojnovac.hr
