Difference from classic installment plan
Posted: Mon Jan 06, 2025 6:21 am
Interest-free BNPL installments are a tool that allows consumers to speed up the purchasing process within the framework of a savings behavior model. Maxim Soloshchansky, project manager at Boston Consulting Group (BCG), an expert in organizational efficiency and digital transformations in large companies, spoke about the future of bulgaria whatsapp phone number this market and where the key growth points are.
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BNPL Market Size
The BNPL (Buy now, pay later) tool has been developing on the Russian market since 2021. According to FinTech Radar, in 2023, the BNPL market in Russia grew by 150%, reaching 28 billion rubles, and at the end of the first quarter of 2024, the BNPL market size is about 30-40 billion. The installment market is expected to grow this year by another 40-50% and reach 42-60 billion rubles.
The first difference from the classic installment plan is the absence of interest and other fees for the client with the ability to divide the amount of the product into four equal payments. BNPL services themselves earn money from commissions from product sellers.
The second difference is the absence of a credit agreement, so non-payment of payments does not lead to a deterioration in credit history. This format increases the purchasing power of consumers and increases sales, especially within the framework of the savings model of behavior.
But there are also limitations. Deputies of the State Duma of the Russian Federation proposed changing the principles of issuing interest-free BNPL installments. They propose entering data on purchases over 15 thousand rubles into a credit history bureau.
Регистрация компании в Дубае. Быстро и конфиденциально.
Анализ бизнес-гипотез. Регистрация. Лицензирование. Поддержка на всех этапах.
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How and which marketplaces are best to enter so as not to burn out, but to earn money? Choose the appropriate training in the catalog of courses on marketplaces .
On topic. Buy now, pay later: how BNPL and SNPL services differ from installments and loans
Subscribe to RB.RU in Telegram
Content
BNPL Market Size
The BNPL (Buy now, pay later) tool has been developing on the Russian market since 2021. According to FinTech Radar, in 2023, the BNPL market in Russia grew by 150%, reaching 28 billion rubles, and at the end of the first quarter of 2024, the BNPL market size is about 30-40 billion. The installment market is expected to grow this year by another 40-50% and reach 42-60 billion rubles.
The first difference from the classic installment plan is the absence of interest and other fees for the client with the ability to divide the amount of the product into four equal payments. BNPL services themselves earn money from commissions from product sellers.
The second difference is the absence of a credit agreement, so non-payment of payments does not lead to a deterioration in credit history. This format increases the purchasing power of consumers and increases sales, especially within the framework of the savings model of behavior.
But there are also limitations. Deputies of the State Duma of the Russian Federation proposed changing the principles of issuing interest-free BNPL installments. They propose entering data on purchases over 15 thousand rubles into a credit history bureau.
Регистрация компании в Дубае. Быстро и конфиденциально.
Анализ бизнес-гипотез. Регистрация. Лицензирование. Поддержка на всех этапах.
Ad
sorp.ae
How and which marketplaces are best to enter so as not to burn out, but to earn money? Choose the appropriate training in the catalog of courses on marketplaces .
On topic. Buy now, pay later: how BNPL and SNPL services differ from installments and loans