Financial Services (105)
The Russian post office has launched a new financial product for consumers. They can get a microcredit loan (between $100-200 USD) in any post office branch simply by presenting a piece of identification.
Why it matters
Microcredit is something that has really taken off in underdeveloped countries and is usually associated with business development. Will this niche offering attract local customers considering the small amounts loaned?
“Svyaznoy”, a large retail chain that specialises in mobile and digital electronics has launched a new card that combines debit, credit and reward points. As part of the scheme, banking services will be available in more than 2,200 retail outlets.
Italian designer Roberto Cavalli has launched his first credit card in collaboration with Berlin-based Corpcom. The card works like any other but provides users with many benefits when it comes to shopping: VIP treatment in his boutiques, special discounts, tickets to events and fashion shows, as well as exclusive beauty and travel offers.