Lines were pulled in the networks – Newspaper Kommersant No. 226 (7427) dated 12/06/2022
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Post Bank decided to combine credit cards and POS loans in retail chains by launching a product that is more used by corporate borrowers – a credit line tied to a specific retail chain. There is less flexibility than in a credit card, but the rate is lower, so the product may have a future, experts are sure, stipulating that it will not be easy for the consumer to understand the nuances.
The launch of a new product in the POS lending segment (loans for the purchase of goods in retail chains) – a revolving credit line that combines the characteristics of a POS loan and a credit card, was reported to Kommersant at Post Bank. The peculiarity of the line is its connection to a specific trading network (Svyaznoy became the first partner of the bank) without limiting the goods presented in it. The product looks like this: the buyer selects the product at the point of sale and applies for a loan, the bank approves the application and provides a limit of up to 20% above the cost of the product. The credit line is approved for one year, with each payment made restoring the previously approved limit, and the available funds can be used again. Payments for all purchases within a single limit are summarized. If the product is purchased at the end of the line term, then it is automatically extended for the term of the loan without scoring. But, as with a credit card, in case of violation of payment discipline (delay, lack of payments), the line limit will be reset to zero.
According to the project partners, in the next two or three years, technology can take a significant share in POS lending. According to FR Group, as of December 1, the total volume of POS loans was 267 billion rubles. “We are sure… in the coming years, the share of credit lines will increase significantly, and this product will take the largest weight in the portfolio of targeted commodity loans of Post-Bank,” said Andrey Pavlov, vice president of the bank. He points out that interest on POS loans is lower than on credit cards – 18–20% versus 25–35% per annum, and among the benefits for retailers are increased sales and average bill, no acquiring costs, wide marketing opportunities for retention and increasing customer loyalty. “We believe that credit line technology will quickly become a strong driver of the POS segment,” agrees Maxim Sledkov, vice president for financial services at Svyaznoy.
Competitors are considering for themselves the possibility of applying the experience of Post-Bank. “We consider such a product to be promising,” says Igor Dmitriev, head of the Rosbank consumer lending center. According to senior vice president of Renaissance Credit Andranik Zakharyan, large retail players have a significant flow of customers, in which the bank is interested and which it seeks to attract. “But different interest rates for different products can confuse the customer and make it difficult to plan a personal budget,” he adds. Irina Zhimerina, Partner Business Development Director of HCF-Bank, pointed out that the bank offers its customers revolving credit lines. However, this is a tool built into the marketplace system that is only available online. Of the partners in the bank, only Ozon was named, the loan rates for this service were not disclosed in offline stores either.
Experts recall that there have been attempts to make revolving credit lines for citizens. “Against the background of the obvious limited development of the traditional POS lending segment, eight years ago, banks began to design the so-called cardopos, that is, a hybrid of a credit card and a POS loan,” says Anna Avakimyan, head analyst at Regblock LLC. was to flood the market, since installment cards (Halva, Conscience) and credit cards with a long grace period and generous loyalty programs appeared. However, now the market needs new banking products – the topic of express loans for specific purposes is more relevant than ever, Dmitry Afrikanov, CEO of the Unicom ecosystem, is sure. Independent expert Andrei Barkhota points out that Post-Bank does not have a developed corporate sales channel (a large base of payroll clients), so it is forced to develop hybrid partner products. It is too early to talk about the results of the launch of the program, he concludes.
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