What is POS-crediting?

Despite all the known shortcomings,Express loans are becoming more popular. Buyers are so used to the benefits of the financial market that they want to get a loan right at the point of purchase. This is the basis for POS-lending.

What it is?

POS-credit is nothing more than a loan to buygoods. This is a loan that is issued and issued directly in the store, bypassing a visit to a banking organization. POS means "point of sale" and is translated as "point of sale", which accurately reflects the meaning of this type of lending.

Cash on hand is not issued. The bank, after processing the necessary documents for obtaining a loan, transfers the money to the store account, and the buyer subsequently returns the loan. The bank has a cooperation agreement signed with the necessary points of sale, which provides for a service to provide the borrower with a POS loan.

How does the process of obtaining this species occur?loan borrower? The bank places its representative in each partner store, which is engaged in the direct loan processing. Also, the POS-lending manager acts as a consultant on the service provided.

Sometimes banks use a third person, viz.credit broker, with whom the contract is concluded. Thus, one broker at a retail outlet can represent the interests of several banks when issuing a POS loan. In our country, POS-lending services provide a narrow range of banking institutions. The first to use this type of lending began the bank "Russian Standard". Later, such banks as Home Credit, Alfa-Bank, Tinkoff and others joined him.

POS issue

If you decide to use the service of such lending, you will go through the procedure of registration in the following stages:

• Choice of goods (it is worth noting that usually not all goods in the store can be bought on credit, so carefully look at the price tags).
• At the credit counter, an application for a loan is issued. For this it is necessary to present a passport and a second document of your choice from SNILS to a foreign passport.
• If the application is approved by the bank, the documentation for the loan is signed.

• The bank makes payment for the purchase.
• You return the loan according to the schedule set by the bank. You can do this either directly in the store, or at the bank or payment terminals.

POS-crediting "Tinkoff"

Buyers of online stores and travel agencies,which accept payments through Yandex.Kassu, lending is available directly in the payment process. The bank-creditor is "Tinkoff Bank" (it also issued cards "Yandex. Money"). Credit limit - from three to one hundred thousand rubles.

For the online store entering into an additional contract with the bank is not required, the payment button on the loan can be found next to other payment methods.

Application for a bank loan is considered twominutes, after which the representative will visit the client to sign the loan agreement. The next business day after the signing of the contract, the purchase is considered paid. In "Yandex.Kass" commission from buyers is not charged. The loan is repaid through the replenishment points of Tinkoff Bank or on the Yandex.Money website.

Sometimes the condition of the bank for obtaining a loanis the payment of the first installment (from 10 percent). Also, the amount for which a product or a quantity of goods is purchased can be limited. On this subject, you can consult with a representative of the bank. The loan term can also be very different, from a couple of months to three years, as well as the interest rate.

Benefits

Advantages of POS-crediting are obvious for both the buyer and the other parties to the transaction:

• The buyer quickly acquires the necessary goodson credit, gradually repaying the loan taken from the bank. The process of obtaining a loan is simpler and much faster than in the case of a consumer loan taken directly from the bank. The goods can be obtained without down payment and overpayments.
• Bank using POS-credit extends the basecustomers. A new customer can always be offered, in addition to credit, also a credit card (so-called cross-selling), which increases the income of the banking organization.
• As for the store, he gets a profitor a discount. With its help, the turnover and the amount of the check increase on average, since the buyer has the opportunity to buy more. The outlet does not risk, as it receives money immediately when selling the goods, and all the obligations are assumed by the bank. Among other things, the store may include non-moving goods in the credit list, which will allow it to be sold off faster.

The reverse side of POS credit

The market of POS-crediting is becoming more popular. But there is a downside. In general, the drawbacks concern the buyer:

• Interest rates are often several times higher than usualbank interest, for which consumer loans are issued. This is due to the fact that the bank takes all the risks for non-repayment of the loan, which is invested in calculating the loan value. The client is assessed on the credit rating based on the borrower's credit history. The verification procedure is automated and is called scoring.
• Unscrupulous representatives of the bank may, without your knowledge, add additional costs to the amount of the loan, for example, insurance against accidents.
• Credit limits on the amount.
• Goods purchased on credit are indeposit with the bank. This is done again to reduce the bank's risks, so that in case of refusal to repay, it could partially return the money by selling the goods seized from the borrower. Bail is taken, for example, cars (in this case, the bank keeps the original PTS).
• There is always the possibility that you will buy goods that have been stashed in warehouses at an overpriced price.
• The opportunity to purchase goods here and now, without having the necessary amount of money, often forces the buyer to make purchases impulsively, without thinking properly.

• In view of the quick and not very thorough verificationpaying capacity of the buyer, banks of POS-crediting are at great risk. When drawing up a consumer loan, the borrower is checked much more carefully, up to the provision of a certificate from the job. The most unpleasant situation for the bank is the risk of fraud on the part of the buyer. No one can guarantee the bank that the application for a loan does not contain the information of the stolen passport. In this case, we can even talk about collusion with the employees of the store.

POS-credit on the Internet

Sales on the Internet are also growingpopularity, become more advanced and developed. Now there are many ways to pay for purchases online. Earlier it was possible only by cash on delivery. Online stores today can offer to buy goods on credit.

Buy the item in the online store with the help ofa loan is simple. It is enough to click on "buy on credit" when placing an order. Next, the application for a loan is processed, a few minutes after the sending, a response comes from the bank. If the loan is approved, you receive the necessary goods and return the loan directly to the bank. Upon delivery, a loan agreement is signed.

So, who needs a POS loan?

• If you do not have enough money to buycertain goods, then the loan is your option, since you can make a large contribution as a down payment, and return the balance to the bank in small amounts.
• If the appliances in the house suddenly went out of order, and live without a favorite coffee maker or toaster is not possible.
• To save for a new thing is long and inconvenient. And buy on credit for a small amount much faster.

Rating of banks of POS-crediting

Below are the banks that occupy the leading positions in the volume of the POS-loan portfolio:

• HCF-Bank.
• "Alfa Bank".
• Rusfinancebank.
• "Credit Europe Bank".
• "Renaissance Credit".
• "Trust".
• Rosbank.
• MTS-Bank.
• "Opening".
• "Oriental".