What’s a Rich Text element?

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The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

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<script>
  /**
   * Writes the current year to all elements that match the selector.
   */
  function setCurrentYear() {
    const YEAR_ELEMENTS_SELECTOR = '[fs-hacks-element="year"]';

    const yearElements = document.querySelectorAll(YEAR_ELEMENTS_SELECTOR);
    const currentYear = new Date().getFullYear().toString();

    yearElements.forEach((yearElement) => {
      yearElement.textContent = currentYear;
    });
  }
  
  document.addEventListener('DOMContentLoaded', setCurrentYear);
</script>

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Static and dynamic content editing

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A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

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How to customize formatting for each rich text

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Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

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mono: Pioneering Ukraine's fintech frontier, from issuing to acquiring

ProcessOut Deep Dives

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A Conversation with Vlada Podkuyko (Product Owner, Acquiring Payments) and Eduard Bondarenko (Head of Sales) at mono

In the dynamic landscape of Ukrainian tech, mono has consistently stood out since the company launch in 2017.

One of mono’s products — monobank, the nation's first mobile-only bank, — as well as their innovative approach and customer-centric solutions have earned them a devoted following. With almost 9 million clients, and a team of 500+ employees, mono has become a major player in the Ukrainian fintech scene.

It's worth noting that monobank is just one product developed and promoted by mono. Its innovative ecosystem also includes products like Market by mono, an online marketplace; monobusiness, a business banking platform; Expirenza, a platform for booking unique experiences; and Base by mono, a platform for creators to accept support from their fans. This diverse portfolio highlights mono's commitment to providing comprehensive and user-friendly financial and lifestyle solutions for both individuals and businesses in Ukraine

They've recently embarked on an exciting expansion into the world of acquiring payments, tapping into a market estimated to be worth around 50-55 billion UAH per month (about $1,2 bn).

We had the opportunity to chat with Vlada Podkuyko, Product Owner for Acquiring Payments, and Eduard Bondarenko, Head of Sales, to gain insights into this strategic move, the challenges and opportunities of the Ukrainian market, and their vision for the future of payments.

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A culture of innovation: open, flat, and tech-driven

mono’s success is rooted in its unique culture – a blend of technology and entrepreneurship that fosters openness, collaboration, and a relentless pursuit of creative solutions. “We're not bankers,” Vlada explains. “We're IT professionals who prioritize understanding our customers and building solutions that truly make a difference in their lives. We value real-time feedback and constantly adapt based on what we learn."

Eduard emphasizes the company's flat structure and commitment to empowering its team. “mono encourages everyone to take ownership and contribute ideas,” he says. “It's not just about completing tasks; it's about making a real impact and shaping the company's future."

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From issuing to acquiring: a natural evolution

mono's journey didn't stop at revolutionizing personal finances. Recognizing the evolving needs of Ukrainian businesses, they made a strategic move into the world of acquiring payments.

"Expanding into acquiring was a natural next step for us," Eduard explains. "We'd already built a strong customer base on the issuing side, and we started seeing a growing demand from businesses, particularly in the fast-growing e-commerce sector, for more advanced payment solutions."

Vlada adds, "It was always part of monobank vision to offer a comprehensive suite of financial services. We knew our users valued the convenience of managing everything — credit cards, payments, financial data — all in one place. Expanding into acquiring lets us extend that seamless experience to businesses."

But it wasn't just about convenience. mono saw an opportunity to address a real pain point in the market. "Many companies were struggling with outdated, fragmented payment systems that were costly and slow to adapt," Vlada points out. "We wanted to simplify that."

By applying the same principles that fueled monobank’s success in issuing — simplicity, transparency, and innovation — the team set out to transform how businesses handled payments.

"Our goal was to provide them with a streamlined system that wasn't just easy to use but also helped them grow," Vlada emphasizes. "We wanted to improve efficiency and reduce the friction they faced with existing solutions."

Eduard highlights another key factor driving their decision. "Businesses in Ukraine were craving reliability and flexibility. Many were frustrated with traditional payment processing systems that didn't adapt to their needs. By entering the acquiring space, we could offer a better experience and ensure businesses had access to modern tools that allowed them to scale efficiently."

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Navigating the Ukrainian market: overcoming challenges and building trust

Venturing into the acquiring space wasn't without its hurdles. "One of the biggest challenges was overcoming misconceptions," Vlada shares candidly. "Many people still believe they have to use their own bank to process transactions. We had to educate the market about the benefits of choosing monobank as their acquiring partner."

Eduard adds, "Building trust with businesses was also crucial. When it comes to payments, they need absolute confidence in the system's reliability and security. Our colleagues from the bank also had to navigate regulatory issues and fiscalization requirements in Ukraine. Additionally, we had to address the complexities of multi-currency transactions, which are common for businesses operating internationally."

Vlada continues, "Another challenge we faced was helping businesses adapt to the rapidly changing payment landscape. With the increasing adoption of digital wallets and contactless payments, we needed to ensure our acquiring solutions were flexible enough to accommodate these evolving consumer preferences. In Ukraine, Apple Pay is currently the most popular method, accounting for 40% of online transactions, followed by our own monoPay at 27%, then Google Pay at 22%, with manual card entry trailing behind at just 11%."

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Shaping the future of payments: tap, pay, and thrive in a digital-first world

mono is at the forefront of Ukraine's digital transformation, actively championing technologies that are revolutionizing how businesses accept payments. “We see Tap to Pay and tokenization as the future,” Vlada predicts. “Tap to Pay has the potential to replace traditional POS terminals, and tokenization will improve security and user experience in e-commerce. These innovations are not only enhancing convenience and security but also helping Ukraine maintain its position at the forefront of fintech.”

This focus on innovation extends beyond mono's own developments. When asked about other exciting players in the Ukrainian fintech scene, Vlada's enthusiasm is evident. “Absolutely! I’m a big fan of personal financial management apps like Finmap. They make tracking expenses so easy and accessible. Also, I admire Grammarly and Readdle, which are Ukrainian companies that have made a name for themselves globally. It’s inspiring to see how much innovation is coming out of Ukraine.”

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Supporting businesses through thick and thin: a commitment to Ukraine's resilience

The ongoing conflict in Ukraine has presented immense challenges for businesses across the nation. mono has risen to the occasion, providing unwavering support through reliable payment solutions and digital tools that enable businesses to navigate these difficult times.

"It's a tough time," Eduard acknowledges, "but we're proud to play a role in helping the Ukrainian economy stay strong. We've focused on offering reliable, secure payment solutions that help businesses continue to operate despite the obstacles they face. We’ve also provided digital tools that allow businesses to operate remotely and process payments without interruptions."

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Conclusion: a bright future for fintech in Ukraine, led by mono's pioneering spirit

mono's journey from a mobile banking disruptor to an acquiring powerhouse is a testament to their unwavering commitment to innovation, customer-centricity, and adaptability.

Their deep understanding of the Ukrainian market, coupled with their passion for simplifying financial services, positions them as a true leader in the fintech space.

“Customer experience is at the core of everything we do,” Eduard emphasizes. “From the very beginning, mono has focused on making financial services simple and intuitive for users. Whether it’s our monobank app or other products, we want the experience to be as smooth as possible. We’ve built a strong relationship with our users by offering fast support, resolving issues quickly, and constantly innovating based on their feedback.”

As mono continues to evolve and expand its offerings, one thing is clear: they are shaping Ukraine’s digital future.

And with a thriving tech scene and an innovative spirit that refuses to be dimmed, the future of fintech in Ukraine looks brighter than ever.

Visit monobank’s website or their LinkedIn Page

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