Tinkoff is launching Dolyame.ru, Russia’s first digital BNPL (buy-now-pay-later) service.

The Russian digital bank says that Dolyame.ru combines the advantages of online acquiring and instalment plans. Buyers can pay for goods in instalments without incurring interest. At the same time, sellers can immediately receive the full purchase price in their account without commissions or delay.

Specifically, Dolyame.ru allows customers to split the purchase price into four equal parts. So, in order to make a purchase, they need only cover 25% of its price. The remaining three quarters is debited from the buyer’s card on a bi-weekly basis until full payment is received.

Payments through Dolyame.ru can be used to purchase online FMCG products not usually sold on credit or in instalments.

BNPL to grow to 4% of all transactions: FIS

The growth of BNPL is capturing headlines around the world with many upbeat forecasts. FIS, for example, estimates that BNPL will account for 4% of all ecommerce transactions globally by 2024. Moreover, FIS predicts that BNPL will grow 43% annually over the next three years, doubling its global market share. In the US, FIS says that BNPL transactions will grow from a 2% market share to 5% by 2024.

Stanislav Bliznyuk, Tinkoff Bank chair says: “Doylame.ru really represents a win-win solution. Customers can get what they need in a simple and efficient manner, without needing to pay the full price tag. Furthermore, the service presents a great opportunity for online stores. They can increase their sales and average sale, as well as attract new users at no extra cost.

“We are proud to be the first to introduce this new payment method to the Russian market. Its creation has been the result of several factors successfully coming together at once.

Tinkoff Dolyame.ru – increasing sales, winning customer trust

“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.

I’m confident that Dolyame.ru will enable our business partners to increase their sales and win the trust of their customers.”

Dolyami.ru is already offered in Dinomama.ru and Puma stores. In addition, it will be available soon in Tom Tailor, Rive Gauche, Respect, Authentica Love, Streetball and Sneakerhead.

Tinkoff: 13 million customers, growing market share

Since its formation in 2006, Tinkoff has become one of the world’s biggest independent direct banks. Customer numbers now exceed 13 million.

Tinkoff continues to grow its market share of consumer lending in Russia. For example, in the credit card market, it ranks second with a 14% market share behind Sberbank (43.4%).

In the past year, Sberbank lost 0.6 percentage points market share with Tinkoff up 0.7 percentage points.

Alfa Bank (11.3%), VTB (6.2%) and Sovcombank (5%) round off the top five by market share,

bcfd0f80 18d5 44c5 af3d ffef02d243b2 - Tinkoff Launches Dolyame.ru –Russia’s first BNPL payment service