Anastasia Terekhina, Senior Partner at FBK, ACCA, commented to Kommersant on the new rules regulating the instalment payment market, which came into force on 1 April 2026. The new requirements, in particular, require retailers and marketplaces to set a single price for a product regardless of the payment method — whether by own funds or in instalments. According to the expert, the changes are designed to eliminate imbalances in consumer protection and create more transparent conditions for all market participants.
‘Due to the tightening of bank credit policies, instalment plans have effectively become a substitute for credit products. Buyers are increasingly opting for instalments to avoid high interest rates, waiting for credit card approval, or increases in credit card limits,’ notes Anastasia Terekhina. ‘As a result, while instalment instruments were previously most popular for large purchases (furniture, household appliances), this format is now also in demand for smaller-ticket items (clothing, kitchenware, cosmetics)’.
The expert points out that fundamentally different products coexist in the market under the common name of ‘instalment plans’.
‘The BNPL service, or 'pay in instalments' is provided through an operator and sometimes bears its name. The second option is bank instalment plans: these can be interest-free because the seller absorbs the commission, but it is still a bank credit product. There are significant differences between these instruments in terms of their legal nature, terms, and risks for consumers,’ explains Anastasia Terekhina.
According to Anastasia Terekhina, the key reason for introducing regulation was the rise in complaints amid the growing popularity of such services:
‘As the instalment market expanded, complaints increased regarding hidden fees, the lack of discounts when purchasing in instalments, and other practices, which logically led to the beginning of BNPL service regulation’.
