Yandex.Checkout launches online lending service for online shoppers

03.04.2018 | 09:40 Home / News / Fintech /
#Yandex.Checkout #“Pay by installments”
Yandex.Checkout has announced that from now on, online stores can subscribe to new service “Pay by installments”, which will enable them to sell goods and services on credit or by installments and help the buyers resolve to make a more costly purchase.

The company’s press center has informed that the new payment method will be convenient for any online platform: furniture or kids’ store, air ticket or tour package services.  

If the online shop subscribes to the new service, their website will feature an information unit next to the item, telling how to pay for it by installments within several months. The customer only needs to fill in a simple form on Yandex.Checkout to get the credit or installment in a matter of minutes.

Yandex.Checkout’s partner is this project is Paylate, which provides targeted online lending service in all regions of Russia.


The buyer will need to enter an SMS code to confirm the purchase and the money will be automatically withdrawn from the wallet on the established day of payment. If the customer does not have an e-wallet, it will be created during the formalization of the credit or installment. The customer will be able to see the amount of completed payments and the remaining sum, or repay the loan early.

“The service “Pay by installment” will be useful for people who decide to make a purchase spontaneously. For instance, there is a beneficial promotion, but you do not have the necessary amount of money at that moment. You will receive the purchased goods or services immediately after the formalization of the credit and start repaying in 30 days,” said Yulia Gorelova, Head of New Business at Yandex.Money.

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