Tinkoff buys majority stake in Beskontakt

Koshelek acts as an aggregator of banking cards and retail loyalty programmes. The Koshelek app is a leader in its field, reporting the highest number of users of any app in Russia and the CIS. The deal was closed on 29 April 2021 and the transaction terms are to remain confidential. The Koshelek app is a digital wallet and Russia's only mobile app for aggregating bank cards, loyalty and discount cards, and coupons. At present, it has digitised over 300 million cards and has a user base that exceeds 20 million.

Koshelek helps users to rid themselves of plastic and transition entirely to digital cards. To receive a discount at checkout, the user simply needs to show their discount card on their smartphone screen and pay with a tokenised debit or credit card by holding the smartphone close to the contactless payment terminal. The application offers retailers access to a new audience, alongside savings on loyalty and discount cards and better customer communication. Koshelek partners with 19 of the 30 largest loyalty programmes in Russia. 

As part of its partnership with Tinkoff, Koshelek will begin integrating user-friendly financial instruments into its service offering, including: buy-now-pay-later payment plans, varied cashback options, Tinkoff Target programmes, and more. The app’s users will benefit from attractive offers and a seamless customer experience within a single mobile app, while its new features will expand opportunities for retailers to develop co-branded programmes and boost sales.