An average one-time loan taken by a Russian customer amounts to about USD 350 (26 thousand rubles) and has a term of up to 6 months. The study covers payments made using the installments service launched by Yandex.Checkout in March 2018, which is now used by around 8 thousand businesses selling goods and services online.
Customers spend most of the loans on travel agency services, with an average of USD 960, on electronics (USD 454), on the services of educational institutions (USD 400) and on auto parts and car repair services (USD 360). When considered not by category, but as a whole, the average online payment made on a loan is USD 294).
The top business categories in terms of an average check for online sales on installments are tourism, followed by electronics, educational services, auto parts and car repair services, flight tickets, as well as sports and tourism products, medical products and services, home and garden products and household appliances.
As for Yandex.Checkouts Installments service, a merchant can activate it via the standard protocol, and the store can select a program for a period of 3 to 6 months, 6 or 12 months. The grace period for loan repayment is 30 days, but it can be extended up to 120 days.
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