The Silpo supermarket chain, together with Bank Vlasnyi Rahunok (BVR), has launched the Buy Now Pay Later (BNPL) service for grocery purchases. Now customers will be able to pay for goods in installments directly at the self-service checkout.
The Silpo supermarket chain, together with Bank Vlasnyi Rahunok (BVR), has launched the Buy Now Pay Later (BNPL) service for grocery purchases. Now customers will be able to pay for goods in installments directly at the self-service checkout.
Forbes reports on the new solution in the gastronomic world. The service, called «Payment by installments,» is already available in test mode in eight Silpo stores in different cities of Ukraine, including the Lavina Mall shopping center in Kyiv and the Ostriv shopping center in Odessa. In the summer, it is planned to scale it to the entire network. The developers promise that a bank transaction to approve payment by installments will take no more than 20 seconds.
You can arrange installments for three months for amounts from 1,000 to 20,000 UAH for all Silpo products, except tobacco products. The service does not involve commissions or subscriptions. To connect, you must have an account with the BVR and an amount that covers a third of the purchase price.
Procedure for paying for products via BNPL:
Silpo expects that «Payment by Shares» will help increase the average check by up to 20% per month. The service will currently operate in test mode until May.
In 2024, the global BNPL market reached $235 billion, and is expected to grow to $1.6 trillion by 2034.
