How are they different and why are they needed

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Millennials and zoomers are prejudiced against classic credit products and prefer less expensive and more technologically advanced solutions. To adapt to the needs of a young, solvent audience, FinTech georgia telegram database is developing BNPL and SNPL services. With their help, you can pay for goods in installments, without interest and overpayments. Ilya Dolgopolov, Commercial Director of Technocracy, told us how modern services differ from traditional installments and loans.


BNPL and SNPL services:
Let's look at how BNPL and SNPL differ from each other, as well as from installments and loans.



BNPL (Buy Now Pay Later)
BNPL (Buy Now, Pay Later) is the same as installment, only the seller pays for it using the BNPL service. The provider transfers the amount to the store and takes a percentage from the seller for its services. The buyer pays the service in equal parts over a specified period of time. Most often, the purchase payment is divided into 4 parts of 25%, and the client pays it once every two weeks. The whole process takes minutes. And all this without overpayments.

According to LendingTree, more than half of zoomers have used BNPL at least once in the last year. At the same time, the volume of BNPL transactions worldwide is expected to grow by almost $450 billion between 2021 and 2026. The Russian BNPL market will double in 2024.


Where to get money for business and how to manage finances? Experts from the educational platform for entrepreneurs "Kurs" will tell you .


To use BNPL , you don’t need a good credit history, and the approval process is as simple as possible. As a rule, the solution is integrated into the seller’s platform. For example, in an online store, where it is enough to indicate a phone number and a bank card.

Important: You can use BNPL only for a specific purchase. And without interest or additional fees, if payments are made on time.