Russian installment services market multiplied by 1.6 in 2024

In his opinion, the growth of the market is associated with an increase in the number of stores that allow payment in installments. For example, at Doli the number of members increased by 131% year after year.

“The advantage of BNPL is a simpler and faster registration procedure, while at the same time it is a good alternative for those borrowers who do not have an installment card or a credit card or who have already exhausted their limit,” he said. director Inna Soldatenkova; of expert analysis on Banki.ru.

According to her, the growth of the BNPL services market in 2024 is due to a high key rate, which has made traditional loans less accessible and expensive. It also encourages Russians to keep funds on deposit and use installment payment services so as not to withdraw money from them, Soldatenkova said.

Experts interviewed by the newspaper predict that by 2025 the market for installment services could grow up to 400 billion rubles, not only due to a decrease in the availability of other financial instruments, but also due to the connection of new online and offline stores. .

The development of the sector may be negatively affected by the adoption of the draft law “On Activities of Providing Services in Installments”, submitted to the State Duma in August 2024. Its authors, in particular, propose to oblige services to transfer user data to the credit history bureau if the amount of unfulfilled obligations to the service exceeds 15 thousand rubles.