TITLE: Russia's Central Bank Implements New Rules for Buy Now, Pay Later Service Operators
BODY:
On April 1, 2026, the Bank of Russia (Central Bank of Russia) brought into force new regulations governing buy now, pay later (BNPL) service operators. These operators, which act as intermediaries enabling consumers to purchase goods, works, and services on instalment plans, are now subject to supervision by the Bank of Russia. As of April 1, 2026, 14 organisations were registered in the central bank's registry of BNPL operators.
The new regulatory framework establishes several key consumer protections and operational requirements. BNPL services are now provided free of charge to consumers. Merchants are prohibited from charging different prices for goods depending on whether they are purchased through BNPL services or paid for in full. The maximum instalment period is set at six months from April 1, 2026, reducing to four months from April 1, 2028. Debt information exceeding 50,000 Russian rubles owed to a single BNPL operator will be reported to credit bureaus, enabling banks and microfinance organisations to better assess consumers' overall debt burden when evaluating credit applications. Late payment penalties are capped at 20 percent per annum of the overdue debt amount, protecting consumers from excessive debt accumulation.
The Bank of Russia maintains regulatory oversight of BNPL operators and administers the registry of permitted operators. Detailed materials regarding the admission procedure for BNPL operators are published on the Bank of Russia's website.