Credit History of Modern Marketplaces

The relevance of the study of credit history and instalments on modern marketplaces such as Wildberries and Ozon is due to the widespread use of online shopping and the increasing demand for beneficial financial services. This paper examines the main aspects of the credit system on online platforms, including the wording used in advertisements and the collection of information by credit institutions as part of bank behavioural surveillance. There is a need to examine the impact of credit history in instalment lending on users of shopping platforms and what their risks are in using such services. The authors have identified a problem, which is incomplete consumer awareness of the consequences of using instalments through a financial platform, in particular, the use by marketplaces of such formulations as «no overpayment» or «instant approval and execution of instalments», omitting the reflection in the credit history, which further affects negatively the creditworthiness of users, and may also contribute to the accrual of interest, commissions and other charges. The main method of the study is analytical review which involves systematic collection of information, its analysis and interpretation from various sources, namely examination of marketplace instalment promotional materials, contractual terms and conditions that mislead consumers, negative user feedback and evaluation of instalment provision. The purpose of the study is to examine and determine the level of public awareness of financial instalment arrangements and their impact on the financial situation, namely the consequences of entering into loan agreements through online platforms. The result of the research is a proposal to solve the problem of negative impact of instalment marketplaces on the credit history, which includes the need to measure financial possibilities, carefully study the terms of the instalment agreement, compare the offers of marketplaces and banks, choosing the most suitable option. It is also necessary to repay instalments on time, avoiding registration for everything in a row, and emphasize expensive and really necessary goods. It is recommended to accumulate funds, close current debts, and improve credit rating before applying for instalments. The key conclusion of the study is the thesis that it is advisable to increase public awareness to make informed financial decisions, as well as to increase the transparency of instalment terms on modern marketplaces.