The Russian online retailer Wildberries is expanding a new financial service enabling clients to pay by instalments.
Interest-free instalments have so far been available only for some household appliances and electronics. But, Wildberries plans to expand the range of products that can be bought in instalments to 11 million items.
The minimum purchase price has been set at 5,000 rubles (€57-$68) and the repayment period can run for six months to two years. Loan conditions will depend on the goods bought and the client’s credit score.
Wildberries is the largest retailer in Russia. The company currently operates 91,000 pick-up points in the country.