Pos credit broker. It was decided to single out POS-loans as a separate line
Pos (from the English "point of sales") - a point of sale. At its core, POS loans are express loans or mini-loans that are issued by a bank representative or a seller directly in a store.
For banks, such loans are less risky than, for example, non-purpose loans cash or credit cards. Therefore, the percentage of "approval" of such loans is higher. According to Expert RA, in 2012 the portfolio of unsecured loans amounted to 4.1 trillion rubles, which is more than the mortgage portfolio of banks.
Advantages and disadvantages of POS lending
Among the advantages of POS lending:
The ability to instantly buy the item you like;
Protection against inflation and depreciation Money;
Such purchases do less damage. family budget, since the amount is paid in installments;
Opportunity to get a loan for citizens with a bad credit history;
Often, special promotions are arranged for borrowers, allowing them to buy goods at a reduced price.
Main disadvantages:
Lending rates range from 25 to 50%, sometimes up to 75%;
Market experts explain that under the guise of interest-free consumer credit in fact, it costs a loan to purchase goods at an inflated price.
POS loan rates are higher than classic consumer loans;
Impulsive shopping - the likelihood of buying a product at a higher price than in another store;
How to get a POS loan
The decision on a loan is made as quickly as possible (up to 30 minutes), a minimum package of documents is required. However, it is distinguished by higher interest rates (more than 30%).
The system for issuing a loan is as simple as possible.
Requirements for the borrower are extremely loyal. POS-credit is issued to any citizen who has reached the age of 18. Often, confirmation of the borrower's income is not required - only a passport is among the requested documents.Maximum amount lending in most cases is small and does not exceed 50-80 thousand rubles. Such loans are issued for a period of 3 months. up to 3 years, on average - for a year.
As a rule, retail outlets have the opportunity to choose between the offers of several banks. Among the banks that are actively working in the POS lending market, Alfa-Bank, Rusfinance, Russian Standard, OTP Bank, Home Credit are represented today.
If the borrower has the opportunity to confirm his income and provide a 2-personal income tax certificate, then it is better to take not a POS loan, but a regular consumer loan.
Often, in publications and informational reviews, a consumer loan is replaced by a synonym for "POS-loan". Data banking terms are used to describe programs that involve the issuance of a certain amount of funds to the borrower. The client has the right to spend them for personal purposes. At the same time, in 80% of cases, it is not supposed to issue a pledge or another type of guarantee obligations - a surety.
So, are these concepts completely identical? Are there differences between them? What sources correctly interpret the concept of "consumer loan" and "POS-loan"?
About consumer lending
First you need to define the term "consumer credit". The main source describing the characteristics and properties of this banking product is the federal law, whose number is 353 dated December 21, 2013. It proposes the following definition:
“Consumer credit (loan) is money provided by a lender to a borrower on the basis of loan agreement for purposes not related to business activities.
We recommend reading the material on interest rates on consumer loans.
In other words, money is provided to meet personal, consumer, civil needs. Therefore, any interaction between the borrower and the bank in terms of issuing and repaying funds can be called. This concept may include programs such as:
Express loans provided by microfinance institutions upon presentation of only a passport. Banks can offer a similar loan - a loan for urgent needs. It is issued quickly, but in the presence of a whole set of documents, including income statements.
Lombard credit, when funds are provided with collateral.
Credit cards or revolving loans, when access to money is limited only by a limit.
Loans for the purchase of real estate, vehicles, when the purposes of lending are clearly defined, and the object acquired through the loan is often recognized as collateral.
Commodity loans, which do not imply the issuance of funds to the client. They are issued directly at the trade and service points. The borrower chooses the goods, concludes an agreement with the representative of the bank. The bank transfers funds to the store's account, and the client begins to gradually fulfill his obligations to the creditor, already using the selected product. Instead of things, electronics or equipment, the subject of the contract may be the services of clinics, travel companies or wedding agencies.
The last type of cooperation between the bank and the client is called.
POS-credit: deciphering the concept
POS is an abbreviation for the English phrase Point of Sale. The literal translation means "point of sale" or "point of sale". As noted above, the borrower does not even have to visit the bank office - all operations for obtaining a loan, obtaining it and signing an agreement are carried out right in the store. The time that a client spends on buying expensive equipment or jewelry does not exceed half an hour. No need to collect documents, no need to wait an hour or even a day for approval. Everything happens in the here and now. Often, car dealerships work according to this principle: now it will not be difficult to buy a car. It is enough for the client to bring a passport and driving license, and directly at the point of sale to sign the documents, having left from there in an hour in a new car.
Quick or scoring verification of the borrower's identity when applying for a POS loan increases the bank's risks. This, in turn, affects the rate and tightens the requirements for a potential client (banks may also refuse to issue it due to the lack of a permanent residence permit in the region where the loan was issued).
Comparison table
Peculiarities and differences in the interpretation of a consumer loan and a POS loan | ||
Characteristic | consumer loan | POS loan |
Requirements for borrowers | availability of a complete package of documents; in some cases (pension loan, trust loan, loan for payroll clients) - the presence of only a passport and a second document; age - from 21 years old; experience and documents confirming wages; sometimes it is required to provide a pledge or issue an additional guarantee agreement; temporary or permanent residence permit- in any region. |
the client has only a passport; age - from 18 years; no collateral and surety required, but often required an initial fee– from 10%; often insurance is issued along with the loan and credit card; Permanent registration is required. |
Terms of Service | rate - from 12% per annum; term - from 6 months to 20-25 years; first installment is not required. |
rate - from 30% per annum; term - from 3 to 24-36 months; first installment - from 10%. |
Consideration time | From one hour to 3 days | 10 minutes to 1 hour |
Place of registration | Bank office | A store |
Issuing method | cash at the bank; transfer to the client's account or card; |
transfer to the account of the store. |
Additional services | SMS informing; Internet banking; insurance; credit card. |
insurance; credit card. |
Thus, the concept of "POS-loan" is narrower than a consumer loan. It is provided for personal needs, but they are usually reflected in the information about the product or service. That is, the bank is notified for what purposes the client spent the borrowed funds.
When a loan is issued in cash, a citizen can spend them on repairs, on the purchase of equipment, and even on organizing wedding celebrations. The lender is often not informed about the purpose of the loan. He is forced to more carefully check the client's credit history and solvency. This procedure takes a lot of time, but reduces the risks of the bank, due to which it decreases and.
Based on the above, it is worth making a conclusion: it is not worth replacing the concept of “consumer loan” with the term “POS-loan”, because it is not considered its synonym, but is one of its subspecies.
Despite all the known shortcomings, express loans are becoming more and more popular. Buyers are so accustomed to the benefits financial market who want to get a loan right at the place of purchase of the goods. This is what POS lending is based on.
What it is?
A POS loan is nothing more than a loan to purchase a product. This is a loan that is issued and issued directly in the store, bypassing the visit banking organization. POS means "point of sale" and translates as "point of sale", which accurately reflects the meaning of this type of lending.
Cash is not handed out. The bank, after completing the necessary documents for obtaining a loan, transfers the money to the store's account, and the buyer subsequently returns the loan. The bank has a cooperation agreement signed with the necessary sales outlets, which provides for the service of providing a POS loan to the borrower.
How is the process of obtaining this type of loan by the borrower? The bank places its representative in each partner store, who is directly involved in processing the loan. The POS lending manager also acts as a consultant on the service provided.
Sometimes banks use a third party, namely a credit broker, with whom an agreement is concluded. Thus, one broker at a point of sale can represent the interests of several banks when applying for a POS loan. In our country, POS lending services are provided by a narrow circle of banking institutions. Russian Standard Bank was the first to use this type of lending. Later, banks such as Home Credit, Alfa-Bank, Tinkoff and others joined it.
Issuing a POS loan
If you decide to use the service of such lending, you will go through the registration procedure in the following steps:
- The choice of goods (it is worth noting that usually not all goods in the store can be bought on credit, so look carefully at the price tags).
- An application for a loan is made at the credit desk. To do this, be sure 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 loan documentation is signed.
- The bank pays for the purchase.
- You repay the loan according to the schedule set by the bank. You can do this both directly in the store, and at the bank or payment terminals.
POS-lending "Tinkoff"
Buyers of online stores and travel agencies that accept payments through Yandex.Checkout can receive credit directly during the payment process. The creditor bank is Tinkoff Bank”(They also issue Yandex.Money cards). Credit limit- from three to one hundred thousand rubles.
For an online store conclusion additional agreement with a bank is not required, the payment on credit button can be found next to other payment methods.
The loan application is considered by the bank for two minutes, after which the representative will visit the client to sign the loan agreement. The next working day after signing the contract, the purchase is considered paid. In Yandex.Checkout, no commission is charged from buyers. Loan repayment is carried out through replenishment points " Tinkoff Bank” or on the Yandex.Money website.
Sometimes the bank's condition for obtaining a loan is the first installment (from 10 percent). The amount for which a product or the quantity of goods is purchased may also be limited. On this subject, you can consult with a representative of the bank. The term of the loan can also be very different, from a couple of months to three years, as well as the interest rate.
Advantages
The advantages of POS lending are obvious both for the buyer and for the other parties to the transaction:
- The buyer quickly acquires the necessary goods on 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 a bank. The goods can be obtained without a down payment and overpayments.
- The bank is expanding its customer base with the help of POS lending. A new client can always be offered, in addition to a loan, to receive more (the so-called cross-sales), which increases the income of a banking organization.
- As for the store, it also receives a profit or 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 point of sale does not risk, as it receives money immediately upon the sale of goods, and the bank assumes all obligations. Among other things, the store can include a slow-moving item in the credit list, which will allow it to be sold faster.
The flip side of a POS loan
The POS lending market is becoming more and more popular. But there is also back side. The main disadvantages concern the buyer:
- Interest rates are often much higher than usual bank interest, under which they are issued due to the fact that the bank assumes all the risks of non-repayment of the loan, which is invested in calculating the credit value. The client is assessed by credit rating based on credit history borrower. The verification procedure is automated and is also called scoring.
- Unscrupulous representatives of the bank may, without your knowledge, add additional expenses to the loan amount, such as accident insurance.
- Loan limits on the amount.
- Goods purchased on credit are pledged to the bank. This is done again to reduce the risks of the bank, so that in case of refusal to repay, it can partially return the money by selling the goods seized from the borrower. For example, cars are taken on bail (in this case, the bank keeps the original title).
- There is always the possibility that you will purchase goods that are stale in warehouses at an inflated price.
- The opportunity to purchase goods here and now, without having the necessary amount of money, often makes the buyer make purchases impulsively, without thinking properly.
- Due to the quick and not very thorough verification of the buyer's ability to pay, POS lending banks take a big risk. When applying for a consumer loan, the borrower is checked much more carefully, up to the provision of a certificate from the place of work. 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 details of a stolen passport. In this case, we can even talk about collusion with the participation of store employees.
POS-loan on the Internet
Sales on the Internet are also becoming more and more popular, becoming more perfect and developed. Now there are many ways to pay for purchases online. Previously, this was possible only by cash on delivery. Online stores today can offer to purchase goods on credit.
Buy goods in the online store using credit loan simply. Just click on the item "buy on credit" when placing an order. Next, the application for a loan is processed, a few minutes after sending, a response from the bank arrives. 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 buy a certain product, then a loan is your option, as you can make a down payment a large amount and return the balance to the bank in small amounts.
- If the appliances in the house suddenly failed, and it is not possible to live without your favorite coffee maker or toaster.
- Saving up for a new thing is long and inconvenient. And buy on credit a small amount much faster.
Rating of POS lending banks
Below are the top banks in terms of POS lending portfolio size:
- HKF Bank.
- "Alfa Bank".
- Rusfinansbank.
- "Credit Europe Bank".
- "Renaissance Credit".
- "Trust".
- Rosbank.
- MTS Bank.
- "Opening".
- "Oriental".
In our time, lending of certain goods is gaining momentum. Everywhere there are signs that we can buy this or that thing on credit or even in installments. This type of service is called Points of Sale or POS lending. Let's understand the essence of this concept.
What is POS lending
This is the sale of goods and services by a company through mutually beneficial cooperation with a retail bank. In fact, a loan is provided to you not by a company selling a product or service, but by its direct Partner Bank. To apply for a pos loan, you need a special software Bank, therefore, in large points of sale, we can often see directly the manager of the Bank, who arranges loans for us.
One of the distinguishing features of such lending is high risks loan default. To approve such a loan, a minimum package of documents is required, as a rule, only the borrower's passport, because when buying goods, the client values time and is unlikely to return for the goods, offer him the bank to bring a certificate of income and a copy of the labor. The lightning-fast review procedure does not give the bank the opportunity to properly conduct. Given the high risks, the interest rate on such loans cannot be low. Compared to consumer lending it is high enough.
Why would a bank knowingly take on such risks? The answer is simple - high yield pos-credits, high sales volumes in cooperation with large networks of goods, building up the client base, cross-selling to existing customers in the future.
POS-lending on the example of buying jewelry
However, are such loans really beneficial for the buyer himself? Let's look at this issue using the example of buying jewelry on credit.
So, jewelry. This is not an essential item, it is rather a gift, a holiday, a desire to please your loved ones. This segment of goods is deliberately targeted at people with average and above average incomes. It is the desire to please, the desire to please, that banks use in this segment of goods, offering to make a purchase on credit.
Almost all jewelry chains hold sales, promotions, and discounts on the eve of major holidays. That is why we can safely conclude that the initial margin of the product is very high. And these same networks in the low season of sales offer us to purchase jewelry in "0% per annum installments". But after all, 0% per annum, as we found out above, does not happen, which means that this percentage is still paid by someone. If this is not a client, then this is the company itself that sells the goods.
Is the desire to raise sales at any cost so high, and will the company do it at a loss? Of course not. The cost of the jewelry is set according to the tag without discounts. The product is credited for the discounted price, as in the sale period. On top of this figure, the interest on the loan is screwed, which the bank will take for itself, and now we get the same price tag on the tag. This type of installment is an ordinary loan with interest, in fact, just an accurate calculation, no more and no less.
Let's break down the pos-loan in numbers:
1. A ring with a sapphire costs 80,000 rubles.
2. During the New Year sale, the company generously gives the customer a 30% discount. And you can buy this ring for 56 thousand rubles. Or buy this ring in installments, while paying 80 thousand rubles according to the price tag and not a penny more.
You just have to understand: you still get a loan for 56 thousand rubles, then they consider annual interest in the amount of 24 thousand rubles (the bank will take it for itself), and you will pay 80 thousand rubles for all this.
And where is the benefit for you? She is not. There is really no financial benefit for you. There are no loans without interest. However, here it is worth considering the moral side of the issue: you are given the opportunity to get what you want, here and now. Surprise your loved one with a gift. A gift that will not go unnoticed. At the same time, you are not forced to save on everything else and deny yourself other purchases and expenses. You will return the cost of your gift to the bank gradually, without a strong blow to your wallet. Does it all make sense? Sometimes it has. Opportunities are different for everyone.
However, you should not get carried away with this type of lending if you can afford to do without it, wait, save up and buy the same product a little later, but much cheaper.
Where is the benefit for the bank? It is obvious - high interest on lending. Where is the benefit for the company? Increasing the average check! Indeed, in the absence of this kind of lending, you would have acquired exactly what you currently have enough funds for. And with POS lending, you get products more expensive. The company's turnover is growing, it does not bear risks for non-refunds.
So do not believe the advertising signs that promise you magic loans in 5 minutes. No one will lend to you at a loss, and of course, the buyer himself bears all the costs. Good luck with your shopping and stay safe. And of course, do not forget to add our site to your browser bookmarks so that you always receive the most useful information about banking services.
Commodity loans allow you to make purchases by borrowing money, thereby opening up access to various products and services for which the borrower does not have enough own savings to purchase. Generally, POS lending is different flexible tariffs and exclusive offers from a variety of stores that enter into long-term partnership agreements with popular banks.
POS lending
What is POS lending?
Commodity POS-credit is one of the most popular areas of retail lending. In most cases, this is a standard installment plan for clients of trading companies aimed at ordering services or purchasing specific goods on credit.
The abbreviation POS most accurately reflects the essence of the form of debt financing under consideration. Translated from English phrase Point Of Sale means "point of sale", so the term itself "POS loans" can be deciphered as "loans at the point of sale". In simple words, the loans in question are processed directly in the store without the need to visit the office of the bank involved in servicing the future transaction.
POS lending features:
- Target nature of the transaction
- Rates from 0% to 30% per year
- Registration without visiting the bank office
- Cooperation directly with the seller
- Availability of down payment
- Use of goods as collateral
- Conclusion of an agreement without leaving the cash desk
- Remote filing
Companies that provide for the issuance of profitable loans for the purchase of certain goods directly on the territory of retail outlets conclude business agreements on long-term cooperation with banks. Some stores attract several financial institutions as partners at once, so goods can often be purchased taking into account different lending programs.
Purposes of POS-loan processing:
- Ordering various services
- Purchase of goods
- Payment of utility bills
- Payments in online stores
Services under popular POS lending programs are provided by numerous stores that sell furniture, household appliances, portable devices, electronics, clothes, shoes and other consumer goods. Profitable terms often provide for cooperation travel agencies, carriers and medical institutions.
POS lending conditions:
- Average transaction duration – 12 months
- Loan size equals cost goods
- Purchased goods are subject to insurance
- Loans are issued only to adults
- Consideration of the application takes from 5 to 40 minutes
- The scoring procedure is performed by the bank
You can apply for a commodity loan on the official website of the bank or directly in the store. If a network of trading companies is chosen for cooperation, it is recommended to contact one of the local offices. Sometimes the prices of goods are markedly reduced in online stores. If necessary, the borrower can apply for a loan at home, but the lender will insist on visiting the office of the trading company to sign the contract. Some sellers pass on everything Required documents by courier during the delivery of the sold goods.
Loan processing algorithm:
- Choosing a store for cooperation
- Selection of the right product
- Filling out and submitting an application to the bank
- Consideration of the candidacy of the borrower
- Negotiating the terms of a future deal
- Product Purchase
- Delivery to the address specified by the customer
- Signing the contract sent by courier
- Automatic property insurance
- Receipt of goods purchased on loan
Thus, POS-credit allows you to make a purchase without leaving the cash register. The down payment is often viewed as additional collateral. Some organizations insist on the obligatory fulfillment by the client of the first payment, which is at least 10%
from the value of the goods. If the borrower agrees to make a down payment, the lender will reduce interest rate or extend the term of the agreement.
Benefits of POS loans
Generally, POS loans are seen as an excellent source of additional financing when the borrower needs to facilitate the process of purchasing essential goods. If the savings are not enough to pay for a specific product or service order, the seller can provide excellent credit conditions.
The borrower does not need to visit the office of the bank chosen for cooperation. Representatives of the trading company act as intermediaries, sending the application for scoring received from the client to the financial institution. In many online stores, shopping installments are provided remotely. In other words, buy a product and pay with a loan necessary service can be done at any time convenient for the client.
Pros of POS lending:
- Increasing the efficiency of consideration of incoming applications
- The ability to quickly buy goods or order services
- Conclusion of transactions with online stores remotely
- The minimum number of documents for applying for a loan
- Improvement purchasing power consumers
- Expansion of the client base of trading companies and creditors
- Drawing attention to bank loan products
- Increase in turnover and increase in the average check of the store
- Improving the availability of individual commodity items
This form of lending brings significant benefits not only to potential buyers. Stores through cooperation with banks attract new customers, and financial institutions receive commissions. As a result, a loan for the purchase of goods or ordering services is considered an extremely convenient form of lending.
Disadvantages of POS Lending
Unfortunately, many trading companies limit the range of commodity items available for purchase by issuing credit products within the framework of existing programs POS lending. If we are not talking about installments, a large interest will have to be paid for the use of the loaned funds, and the cost of the loan may further increase due to compulsory insurance or payment for related services.
Cons of POS lending:
- The risk of the seller overestimating the original price of the goods
- Imposing additional services on the buyer
- Deliberately inflating interest rates
- Hidden commissions and payments
- The likelihood of late payments
- Limited range of available products
- Making a large down payment
Some stores try to impose on borrowers Additional services. However, according to current laws the creditor is not entitled to refuse to conclude a transaction if the client refuses the related service. Primarily, we are talking about extending the warranty or providing various service options that the buyer can do without when using the product.
The Consumer Protection Act allows you to opt out of making a purchase within 14 days since the conclusion of the contract. To terminate the transaction, the goods must be returned to the creditor. If the buyer did not give personal consent to receive paid services should file a complaint first. When the lender ignores the requirement to renegotiate the terms of the contract by eliminating hidden fees, it is recommended to first involve a qualified lawyer, and then initiate the litigation procedure.
Conclusion
Among the modern forms of lending that came to the domestic market from abroad, various commodity installments are of particular interest to consumers. In addition to POS lending, stores also offer installment cards and specialized commodity loans . Such loan products are based on the ability of banks to enter into partnership agreements with trading companies.
When choosing an organization to apply for a POS loan, you need to carefully study not only the range of available products, but also the parameters of the agreement. Loans are popular, allowing you to purchase goods in demand among buyers in the store.
The algorithm for issuing a POS loan resembles a quick loan. Usually, potential borrower you need to submit valid passport data for verification to the bank. An income statement is required only when applying for a large loan. At the same time, the conclusion of the transaction takes no more than half an hour.