Credit service development

Welcome, dear customers and shop owners. After the last New Year holidays, we again decided to remind you about yourself, and there are several good reasons for this. But first things first. We remind you that the development of the credit service Conpay.ru began on September 8 immediately after the publication of the article on Habré , where I outlined the idea of ​​the project. Of the 6 months that were allotted for development, almost 4 months have passed, and it is time for us to report on the work done. And in general, it is necessary for someone to evaluate our work and add constructive criticism to the process.

For a start, briefly about what we do. We wanted to create a credit service for online stores, with the help of which buyers of any store can purchase goods on credit, without even leaving their homes. And, oddly enough, we managed to create such a service. But, as is often the case, a lot of pitfalls were discovered, about which we buried many bumps. But first, we’ll tell you about what happened, and then about what has happened so far not quite.

UPD: The site went down from habraeffekta. I swear with a hoster. Solve within 10 minutes.
UPD2: All fixed. The site is alive. We apologize.

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It turned out for us so far as a result of this:

1. Cool Not the worst site of the project www.conpay.ru (for connoisseurs, at least a good site)
2. Registration of the store owner (http://www.conpay.ru/register/merchant) and the buyer (http://www.conpay.ru/register/customer)
3. Personal account for the buyer (register as a buyer, it will take no more than 30 seconds) and for the store owner (symmetrically)
4. Service for the selection of loans ( loan calculator ), which can be used both independently and in a particular store.
5. Managing personal data of registered users through the site www.conpay.ru/profile/auth (you can use any of 2 accounts).

Thus, now we can offer store owners to set the code for the “pick up credit” button. To do this, you need to register, fill out a form and send a request. Buyers, too, can now try to fill out their profiles. Only now send them to us nowhere. Here, in fact, it's time to talk about the pitfalls.

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There are only two of them and all of them are connected with our respectable banking structures. Problem number 1: Banks are still not ready to specifically say where and in what form the user data and product information should be loaded. And this is despite the fact that after the announcement of the project, sufficiently high-ranking managers of Russian banks contacted us and offered cooperation. The decision at the level of top management of banks was made almost immediately, but so far, nothing has been done by the banks to integrate into our service.

But this is not the most difficult moment. The most difficult was the legal registration of contractual relations between the bank, the service and the store. Our lawyer has been working on these contracts for a month now, and quite recently, just recently, significant progress has been made in this direction. Therefore, we can conclude the first agency agreement with the bank in January.

Another difficulty for us was the delivery and signing of a loan agreement. To deliver the contract and verify the identity of the borrower should be the courier or the store operator (in case the buyer himself picks up the goods). For this courier must be trained in the bank. Despite the fact that this training takes half a working day on the force, and is, in fact, a mere formality, store owners are still not in a hurry to send couriers for training.

There are some more difficult moments with the transfer of funds. The fact is that in a regular store, for example, in Eldorado, when the buyer signs a loan agreement and picks up the goods at issue, the bank does not transfer any money to the store. This happens only after some time, and sometimes even once a month in one big transfer for the full amount of loans issued in the store. On the Internet, this model works much worse, because shop owners do not risk shipping the goods until they are paid. We, in turn, cannot pay it, until the loan agreement is signed, which will be delivered to the buyer only during the shipment of the goods and after signing must be delivered to the bank, where it may well be rejected because of incorrect filling. The result is a vicious circle, which we cannot yet break.

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On the difficulties, probably, will be enough. Now let's talk about the good. During the work on the project, we decided not to limit ourselves to online stores, but to take into account the usual points of sale. How? Very simple. We will give them access to our credit service without any online store. The operator of a regular store will be enough to download information about the product and personal data of the buyer. Then, after a few minutes, it will be possible to get a loan decision and a loan agreement for signing, after which the satisfied buyer can already pick up the goods from the store. In this direction, we, for certain, will face the same reefs, maybe, there will be also other difficulties.
The B2B market turned out to be very interesting from the point of view of credit products, where there is also a need for prompt settlement of loans, leasing and other banking services. This can be judged at least by the presence of demand for such services from companies that have already managed to turn to us with this issue.

Among the interesting events there were also such as the nomination for Runet Anti-Premium and the Moscow conference TechCrunch Moscow, where we managed to visit on December 5 and get a wide variety of (and not only positive) assessments of our service from experts of the Internet market, Internet project managers and specialists in the field of web technologies. But this is probably the topic for the next publication.

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In general, market interest in our service turned out to be even higher than we expected. Both from the banks and from the shops we received a lot of ideas, suggestions and recommendations. Dissatisfied store owners are especially pleased with us, who, starting from September 8, periodically write us with a question, when will it finally work for us. Taking this opportunity, we apologize for all the delays and hope for their understanding. At the moment, the main difficulty of the project lies in the legally correct execution of contractual relations between banks, Conpay service and stores. As soon as we manage to conclude the first contract with the bank, we will inform everyone who was interested in our project about this and, finally, launch our credit service.

It should be recognized that the project turned out to be much larger and more serious than we assumed in view of our own naivety and inexperience. Nevertheless, in spite of all the bumps and pitfalls, we still go to the goal and, I hope, sooner or later we will reach it.