According to MegaFon research, Russians have become more likely to pay for goods using BNPL services or in installments. Most of the time (about 30%) in the combined retail network of MegaFon and Yota, Russians pay for smartphones this way, and Apple has become the most popular brand in this segment.
BNPL represents the opportunity to pay part of the cost (25%) upfront and the remaining 75% in a short time. Unlike credit, the customer does not need to fill out additional documents, and purchases made using BNPL are not reflected in the credit history.
As David Borzilov, director of MegaFon’s strategy and sales development department, notes, the BNPL service is becoming increasingly popular among customers.
“The popularity of BNPL will continue to grow as the customer does not overpay for purchased goods. “For companies that implement this payment method for purchases, this also means new customers, increased demand and an increase in average invoices,” he said.
According to statistics from United Network, in 21% of cases, Russians paid for smartphone accessories in installments in 2024 (18% in 2023). Tablets were also purchased 12% more often using BNPL. In monetary terms, this figure increased by 14%.
Let us remind you that the world’s largest BNPL markets are China, the USA and Europe. At the same time, the largest share of payments for installment purchases is observed in Australia – there they occupy 50%. BNPL services in Russia began to appear in 2021.
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Source: Gazeta
Barbara Dickson is a seasoned writer for “Social Bites”. She keeps readers informed on the latest news and trends, providing in-depth coverage and analysis on a variety of topics.