eCommerce Growth
Europe Fintech Paytech

Tinkoff Launches the First Russian BNPL Payment Service

Tinkoff has launched Russia’s first digital BNPL (buy-now-pay-later) service Innovative for the Russian market, this new means of paying for purchases in online stores combines the advantages of online acquiring and instalment plans. Buyers can pay for goods in instalments without incurring interest, and sellers can immediately receive the full purchase price in their account without commissions or delays.

The service allows customers to split the purchase price into four equal parts. In order to make a purchase, they need only cover 25% of its price. The remaining three quarters is debited from the buyer’s card on a bi-weekly basis until the full payment amount is received.

Payments through can be used to purchase FMCG products that are not usually sold on credit or in instalments (clothes, shoes, cosmetics, accessories, and so on) from online stores.

Buy-now-pay-later services have become widely used the world over. In the US, 56% of consumers have used them at least once, while 36% use this payment method at least once a month. According to the experience of American retailers:

  • this payment method has increased conversion in online stores by at least 15%;
  • the average check has grown by 60%;
  • 20% of users make a second purchase;
  • the number of new customers who previously turned down purchases on account of high prices has grown significantly. 25% of consumers using the buy-now-pay-later method are either Millennials or from Generation Z.

Stanislav Bliznyuk, Chairman of the Board at Tinkoff Bank said:“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.

“As a leading fintech company, we are proud to be the first to introduce this new payment method to the Russian market. Its creation has been the result of several factors successfully coming together at once.

“Firstly, strong competencies were required in data analysis to allow payments to be processed quick and seamlessly. Secondly, unique technologies were needed to develop and integrate the service. Tinkoff was an ideal match for these conditions.

“I’m confident that will enable our business partners to increase their sales and win the trust of their customers.” payments are already offered in and Puma stores, and will be available soon in Tom Tailor, Rive Gauche, Respect, Authentica Love, Streetball, Sneakerhead and other online stores.


  • Polly is a journalist, content creator and general opinion holder from North Wales. She has written for a number of publications, usually hovering around the topics of fintech, tech, lifestyle and body positivity.

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