Pay P.S., a lending company from Russia, launches on Mintos

Mintos welcomes Pay P.S., one of the first lending companies in Russia to issue consumer loans online.

Pay P.S. (legal name Zaim Online) has almost 10 years of experience in the Russian lending industry. The company was founded in 2012 and initially started out as an online short-term loan issuer. In 2014, the company also launched its online flights’ ticket reservation system – this part of the business was later connected to the lending business by offering clients to purchase flight tickets by taking a loan with Pay PS. Since then, the company has also gained microfinance company (MFC) status, started issuance of point of sale loans and installment loans, and created a debt restructuring program for its clients during the Covid-19 pandemic in 2020. For 2022, the company aims to double its team size, significantly increase its web traffic, quintuple the active user count, and become one of the top 3 microfinance companies in Russia.

Pay P.S. currently has a team of 50 people. As of 31 May 2021, the company’s net portfolio value was €9.4 million. Since its founding, the company has issued €164,4 million in loans.

Pay P.S. during the pandemic

“Due to the presence of diversified products, we were able to simultaneously maintain the portfolio at the required level while reducing issuances to long instrument loans and test new scoring models on shorter payday loans. From March to June, all our employees worked remotely, which did not affect the quality of business processes. Additionally, systems for monitoring task performance and remote processes of operational meetings and brainstorming were introduced. Our IT team was able to quickly and efficiently implement 4 new scoring models and new restructuring programs. The new scoring models proved their ability in high-quality risk prediction, and they can be quickly retrained and adjusted considering the current market situation.”

Yuriy Solovyev, CEO of Pay P.S.

Pay P.S. personal loans on Mintos

Annual interest rates

Up to 18%

Average APR*

280%

Average loan amount

RUB 26 057 (€300.85)

Non-performing loans ratio (PAR 90**)

14,88%

Average loan term

6 months

Skin in the game

10%

Mintos Risk Score

6

Buyback obligation

Yes

Interest on delayed payments

Yes

*Annual Percentage Rate

**Portfolio At Risk (overdue more than 90 days)

The Mintos Risk Score for loans issued by Pay P.S. is 6, with the subscores of 4 for loan portfolio performance, 9 for loan servicer efficiency, 8 for buyback strength, and 5 for cooperation structure.

The company uses a proprietary big data algorithm based on internal analytics and external sources such as information from credit bureaus. Thanks to the use of such technology, the company shares that their clients – borrowers, can receive a decision upon their application in 30 seconds, and if approved – loans can be issued within 1 minute.

“Pay P.S. is a pioneer of online microcredit in Russia, the development of the company took place in rapid and progressive steps. In 2020, we successfully coped with the consequences of the Covid-19 pandemic and approved a development strategy until 2023. The purpose of this strategy is to increase the volume of issuance and reach a leading position in the Russian market. One of the important elements in the implementation of the approved strategy is the diversification of funding sources. Entering the Mintos platform is a step towards achieving this diversification. We look forward to long-term cooperation with the platform and its investors and are confident that with the help of Mintos we will implement our plans to double the volume of issuance already in 2021. Our company always has a restrained approach to risk policy when issuing loans, so the task of increasing the volume looks even more difficult, because it is necessary to increase the volume of quality loans. Our company has always been focused on the domestic market, which has huge growth potential, but after entering the Mintos platform, the company's Board of Directors will consider at the end of the year the issue of expanding the business and entering new markets outside of Russia.”

Yuriy Solovyev, CEO of Pay P.S.

How to invest in Pay P.S. loans

Mintos has added Pay P.S. loans to the High-yield and Diversified strategies. If you want to invest in these loans with a custom automated strategy, make sure to adjust your strategy settings. If you’re investing manually, you can filter the loans on the Primary Market.

About Pay P.S.

Pay P.S. (legal name Zaim Online) was founded in 2012 and initially started out as an online short-term loan issuer. In 2014, the company also launched an online ticket reservation system that was later connected with the lending side of the business. Since then, the company has also gained microfinance company (MFC) status, started issuance of point of sale loans and installment loans, and created a debt restructuring program for its clients during the Covid-19 pandemic in 2020. For 2022, the company aims to double its team size, significantly increase its web traffic, quintuple the active user count, and become one of the top 3 microfinance companies in Russia.

The company uses a proprietary big data algorithm based on internal analytics and external sources such as information from credit bureaus. Thanks to the use of such technology, the company shares that their clients – borrowers, can receive a decision upon their application in 30 seconds, and if approved – loans can be issued within 1 minute.

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