Sense Bank and FUIB note the demand for the buy now pay later (BNPL) service, which differs from traditional bank installment plans, and anticipate its implementation in Ukraine in the near future. Interfax-Ukraine writes about this.
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“It seems to us that The client has a request for a product such as a purely European BNPL. Therefore, we are now working with two fintechs, together with them studying this model and the opportunity to join them, because that is where the European BNPL model is implemented,” said Inna Tabak, a member of the board of Smysla, at the Digital Lending 2024 conference, initiated by the Ukrainian Association of Fintech and Innovation companies (UAFIC) in Kyiv.
Deputy Chairman of the Board of FUIB Dmitry Polishchuk, for his part, noted that there is definitely a demand for the service.”
“And most importantly, when we When we talk about BNPL or payment in installments, etc., we forget that the key client of this story is the merchant. There is a very high demand among large retailers for this particular model, so if there is demand, then there will always be supply,” added the banker.
“I think that this year either we or someone else … one of us will show something this year. Because there are a lot of ideas, research, experience and desire to try, since in Ukraine no one has actually tried this,” suggested Polishchuk.
According to him, FUIB has already tested a large amount of customer experience with full-fledged BNPL – models, in particular, the bank team worked on the legal component, during which certain questions arose.