Financial services

Financial services

Financial services is one of the key business development areas for Obuv Rossii. In 2007, the Company became the first player on the footwear market to offer a loan programme to its customers. From 2009 onwards, Obuv Rossii started providing loans independently and introduced  payment by instalments system. From the moment these services were announced to present day, more than 1 mln customers have taken advantage of them, with every second customer using them more than once. In 2016, the volume of payment by instalments sales was 4.9 bln rubles. 

Soon, the list of services expanded: in summer 2012, Obuv Rossii kickstarted a loan programme for customers who had already bought items using the payment by instalments plan and had successfully fulfilled their obligations to the Company. Most clients take a loan until payday. The microfinance services that Obuv Rossii provide make an essential contribution to the revenue of the Company. In 2016, the total volume of loans was 3.7 bln rubles, with net interest income of 1.5 bln rubles, or 15% of total revenue of the Company.

A team of more than 100 managers with vast banking and finance experience manage these services. They are divided into three different teams: retail credit team, analytical support team and financial safety team. The Company has developed its own IT system that makes it possible to perform online transactions and maintain microfinance services. The scoring system is constantly being improved. 
Arifmetika System of financial services 


The Arifmetika System was introduced to the Obuv Rossii chains in summer 2015. The system operator is Platezhny Standart Nonbank Credit Organization (license of the Central Bank of the Russian Federation for transfers without opening an account No. 3530-K of 28 January 2015). 
Initially, customers could pay for a variety of services such as Internet, mobile phone etc at the cash register of the Obuv Rossii shops. Soon after, Obuv Rossii combined all loyalty programs used across its various retail chains into one accumulation-and-discount system. All loyal customers were now issued an Artifmetika card . In 2016, an electronic purse service began operation, with a pre-paid Arifmetika MasterCard being introduced.

By 1H 2017, over 1,7 mln Arifmetika cards were issued. More than 700 cash registers were connected to the system. Today, the monthly volume of cashloans on the Arifmetika MasterCard system amounts to over 200 mln rubles, and the volume of payments for services at the cash register is around 100 mln rubles on average.

The development of financial services in retail, or the process of stores not simply offering retail products, but rather providing a wide range of universal services, is a current world trend in retail. This trend can be observed in various markets in Russia e.g. mobile retail. Such new services increase store traffic, stimulate cross sales, facilitate  customer loyalty, and, as a result, contribute to the effectiveness and profitability of the business.
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