OREANDA-NEWS. April 23, 2012. PrivatBank has launched the “Pay Partly” service in Ukraine, according to which goods can be bought in installments without obtaining a credit.

As reported in PrivatBank, the new “Pay Partly” service radically differs from a customer credit. The installment schedule is obtained not from a bank employee but automatically at the shop’s cash desk. The main feature is that in case of paying all portions of the price by a customer in time according to the installment schedule the credit for the customer will be gratuitous in terms of zero fee on it.

The service is available at any sale outlet that has concluded an agreement with the bank and accepts its credit cards. Today the service is available at largest Ukrainian networks trading with appliances, mobile phones, clothes, shoes and other goods.

“It is a multipurpose technology that can be implemented in any shop trading with any kind of goods. It is enough to install a PrivatBank terminal and enable the service – says Roman Neginski , the Director of the Retail Enterprises' Division. – As the results of first implementations showed, obtaining of an installment schedule automatically allows to reduce time spent on paper work to one minute and to double sales of a sale outlet”.

While paying in installments a buyer is able to choose the terms of an installment schedule at a cash desk. Any purchase price can be divided into 12 equal parts and an agreement can be received and signed immediately – it’s printed by the bank’s POS-terminal. The main requirement of “Pay Partly” service is that the first payment should be performed by a PrivatBank credit card.

PrivatBank is a largest bank in Ukraine. Bank’s network includes 3’394 branches and outlets allover Ukraine. PrivatBank is the largest issuing and acquiring bank in Ukraine. As of April 1st, 2012 the bank issued over 28.6 million of cards, service network included 7’586 of ATMs and 54.5 thousand of POS-terminals.