Banknote, the circular economy shop owned by DelfinGroup, is the first in Latvia to offer digital pawnshop services. The innovative solution will enable all process steps to be carried out remotely. The new service will allow people to obtain a secured loan by completing an application online.

The contract will also be signed remotely, and the goods will be sent to the branch via parcel machines. Banknote representatives emphasise that creating of the digital pawnshop continues the company?s strategy to transform the pawnshop industry. Banknote is now the first pawnshop network in the Baltics to offer this type of service, and the company sees the possibility of introducing this solution in the future in other countries where it operates.

The digital pawnshop process involves Banknote experts assessing the goods, and if the customer agrees to the terms offered, the goods can be sent free of charge to Banknote via a DPD parcel machine. Upon receiving the goods, the company?s experts will match the goods received to the description provided, resulting in an accurate final assessment. The payment for the goods will be transferred immediately after the contract is confirmed.

If the customer does not agree to the terms, the goods will be returned via parcel post, at the expense of Banknote.