VTB postponed the launch of the BNPL installment service to 2024 – Kommersant
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VTB plans to launch an installment service buy now pay later (BNPL; “buy now, pay later”) in the first half of 2024, said Deputy Chairman of the Bank’s Board Georgy Gorshkov at the “Russia Calling!” forum. The bank previously planned to introduce the service in 2023.
Mr. Gorshkov told Interfax that VTB has created a technology platform as part of the project. “We have already issued our first loan the other day and are testing this product,” said the deputy chairman of the bank’s board.
Anatoly Pechatnikov, who previously served as deputy chairman of the board of VTB, in the fall of 2022 toldthat the launch of the BNPL project is planned for 2022.
BNPL services were previously launched by other large banks, such as Sberbank, Tinkoff Bank, Alfa Bank. Yandex provides similar services.
About the rapid growth of the BNPL market and the risks of regulation – in the material “Kommersant” “On an installment plan”.
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