BNPL (Buy Now, Pay Later) services and built-in marketplaces have changed the consumption culture in Kazakhstan. Users are increasingly searching for goods not in search engines, but directly in the search bar of a banking app, driven by the availability of instant installments.
Blockers and barriers to service development:
- Over-indebtedness: The ease of obtaining an installment plan reduces users’ financial discipline.
- Limited selection in niche clothing and footwear categories compared to traditional marketplaces.
- A complex customer journey when returning an item bought on installment (schedule recalculations, delays).
How to overcome the barriers (Recommendations):
- Implementing AI scoring that assesses the real debt load in real time, and adding “soft” payment reminder features.
- Implementing seamless returns: Automatic recalculation or closure of the installment plan the moment a seller scans the returned item.
Summary: Banking marketplaces are winning due to seamless lending, but to retain customers, they need to develop the quality of recommendation systems and improve the returns process.
These are insights from a study on user behavior in Kazakhstani financial ecosystems by Rocket Tech.
