Sberbank of Russia : rolls out innovative solution to buy products on loan offline

• Sberbank customers can buy goods on credit by applying for loan via POS terminal

The Buy with Sberbank service has broadened opportunities and now offers its customers loans to make purchases offline at retail stores. Sberbank customers can apply for a loan to pay for products at checkouts. The whole process will take less than five minutes. Previously, products on loan via Buy with Sberbank were available only online.

How does it work?

• Tell a clerk of a store that is a Buy with Sberbank member that you're willing to use the service
• Put in/tap a Sberbank debit card and input PIN code using a standard Sberbank POS terminal for identification, applying for a loan and signing a loan agreement using an e-signature
• After the transaction gets posted, the seller gives the purchase to the buyer.

Why is it convenient and secure for customers?

• No need to fill out a form and sign a hard copy of an agreement
• No need to provide any documents
• Customers data is not transferred to sellers or third parties
• The whole process takes about five minutes.

The new solution has no alternatives in Russia or the global POS lending market. It is available across more than 1,100 stores throughout Russia. The service constantly broadens its partnership network and connects new members.

Svetlana Kirsanova, Deputy Chairman of the Executive Board, Senior Managing Director of Retail Business Block, Sberbank,

'The new POS lending service at retail stores will be popular both among customers and businesses. For customers, this lending method will be easy and comprehensible, almost like paying with a card, which everyone is used to. Businesses will be able to cut costs by not having a loan expert on the payroll. Thus, even entrepreneurs with small stores and small staff will be able to provide their customers with a possibility to buy on loan.'

The new lending method is being introduced as part of the Buy with Sberbank service evolution. Previously it was only available online. Buy with Sberbank is a lending service that brings together customers and stores when buying on loan. The loan application is submitted online or at a retail partner without going to the bank or waiting for a courier to sign a loan agreement. At the moment, the service has more than 2,200 offline and online partners, including re:Store, Acer, Holodilnik.ru, Lazurit, Asus, Beru and many others.