Sberbank enters POS lending market

Source: Sberbank

Sberbank announces its entrance on the POS lending market with a new product, Purchase on Credit.

Sberbank is launching the Purchase with Sberbank lending marketplace to develop a POS product line.

The Purchase with Sberbank service allows clients to apply for POS loans to buy goods and services on Sberbank’s partners’ websites. The submission and consideration of loan applications and signing of documents are carried out online, and there is no need for the bank’s employees or partners to participate in the process. The product’s advantage is that it incorporates technology that provides a fast and completely paperless loan application process. The bank currently offers a service for the websites of online shops. In 2019, solutions for mobile versions and partners’ apps will be launched, as well as loan application technology at shops.

Loan applications can be submitted by any citizen of the Russian Federation who owns a debit card of Sberbank and uses the Mobile Bank.

At the first stage of Purchase with Sberbank, the bank will offer loans. In the future, other interested lending organisations can join the platform.

The website of the Purchase with Sberbank lending marketplace is www.pokupay.ru.

Deputy Chairman of the Executive Board and Head of Retail Business Block of Sberbank Svetlana Kirsanova:

“By gradually implementing Sberbank’s product strategy, we have created the Purchase with Sberbank technological platform that will increase the accessibility of goods and services for our clients, boost the sales of our retail partners, and give other banks an effective model for offering their loan products. This platform will help Sberbank to achieve its ambitious goals on the POS lending market.”
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