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Russian Fintech Tinkoff Launches Buy Now Pay Later Service

Crowdfund Insider

Russian banking group Tinkoff announced on Wednesday the launch of its buy now pay later service, According to Tinkoff, allows customers to split purchases into four equal parts. Much like other buy now pay later services, customers just need to cover 25% of the purchase’s price and the remaining three quarters are debited from the buyer’s card on a bi-weekly basis until the full payment amount is received.

Stanislav Bliznyuk, Chairman of the Board at Tinkoff Bank, spoke about the service by stating:

“The service 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 to increase their sales and average check, as well as attract new users at no extra cost.”