03.02.2026, 09:04
The popularity of installments has soared in Russia
Source: OREANDA-NEWS
OREANDA-NEWS In 2025, the Russian market for BNPL services (buy now, pay later — "buy now, pay later") grew to 940 billion rubles. The Vedomosti newspaper reports on the soaring popularity of installments with reference to the data of the "Shares" service from T-bank.
The installment market has grown 2.5 times over the year (in 2024 it was about 300 billion). According to Maxim Zaitsev, CEO of Dolami, the trend is explained by the redistribution of demand within the market of payments and credit products. The growth in the popularity of installments is associated with an increase in the popularity of marketplaces — in 2024, the segment grew by 39 percent, to 11.2 trillion rubles, and in 2025 it may approach 14 trillion, explained a representative of the Yandex Split service.
According to Alexey Voylukov, professor of business practice in digital finance at RANEPA, former vice president of the Association of Banks of Russia, BNPL services grew so fast due to the tight monetary policy of the Bank of Russia in 2024-202. The high key interest rate led to an increase in loan rates, while the regulator tightened the volume of loans, including credit cards, which led to a drop in issuance volumes.
"In conditions where the key rate remains in double digits, this allows us not to lose customers, but rather to stimulate demand. Therefore, shared payment has become not just a fashionable feature for buying a smartphone or a vacuum cleaner, but a real alternative to classic lending, even in the segments of real estate and car sales," explained Alexey Lossan, an analyst at the financial marketplace Compare.
According to the United Credit Bureau (OKB), in 2025, the issuance of credit cards in Russia collapsed by 43 percent in quantity, to 14.59 million units, and by 41 percent in monetary terms. The total amount of approved card limits decreased to 1.69 trillion rubles, which is comparable to the level of 2021. Separately, in December, the market came to life — 1.3 million credit cards worth 144.94 billion rubles (plus five percent compared to November).
The installment market has grown 2.5 times over the year (in 2024 it was about 300 billion). According to Maxim Zaitsev, CEO of Dolami, the trend is explained by the redistribution of demand within the market of payments and credit products. The growth in the popularity of installments is associated with an increase in the popularity of marketplaces — in 2024, the segment grew by 39 percent, to 11.2 trillion rubles, and in 2025 it may approach 14 trillion, explained a representative of the Yandex Split service.
According to Alexey Voylukov, professor of business practice in digital finance at RANEPA, former vice president of the Association of Banks of Russia, BNPL services grew so fast due to the tight monetary policy of the Bank of Russia in 2024-202. The high key interest rate led to an increase in loan rates, while the regulator tightened the volume of loans, including credit cards, which led to a drop in issuance volumes.
"In conditions where the key rate remains in double digits, this allows us not to lose customers, but rather to stimulate demand. Therefore, shared payment has become not just a fashionable feature for buying a smartphone or a vacuum cleaner, but a real alternative to classic lending, even in the segments of real estate and car sales," explained Alexey Lossan, an analyst at the financial marketplace Compare.
According to the United Credit Bureau (OKB), in 2025, the issuance of credit cards in Russia collapsed by 43 percent in quantity, to 14.59 million units, and by 41 percent in monetary terms. The total amount of approved card limits decreased to 1.69 trillion rubles, which is comparable to the level of 2021. Separately, in December, the market came to life — 1.3 million credit cards worth 144.94 billion rubles (plus five percent compared to November).
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