Tinkoff launches Russia’s first digital BNPL service
Online shoppers in Russia can now buy goods such as clothes, shoes and cosmetics with Tinkoff Bank’s new buy now, pay later (BNPL) service, Dolyame.ru.
Consumers can spread the cost of purchases across four equal instalments, interest-free, while the sellers receive the full purchase price immediately. The first 25% is paid at the time of purchase and subsequent payments are debited from the buyer’s card biweekly.
Stanislav Bliznyuk, chairman of the board at Tinkoff Bank, says the service provides a “win-win solution”, by offering more spending power to buyers and the potential for online stores to boost sales.
“As a leading fintech company, we are proud to be the first to introduce this new payment method to the Russian market,” he says. “Its creation has been the result of several factors successfully coming together at once.
“Firstly, strong competencies were required in data analysis to allow payments to be processed quick and seamlessly. Secondly, unique technologies were needed to develop and integrate the service. Tinkoff was an ideal match for these conditions.”
The Dolyami.ru service is already available for purchases from Dinomama.ru and Puma stores, with Tom Tailor, Rive Gauche, Respect, Authentica Love, Streetball, Sneakerhead and others expected to follow soon.