Alfa-Bank started issuing loans on Kukuruza cards
March 14, 2012, Moscow, Russia – Euroset company and Alfa-Bank announce the launch of a special credit program on issue of consumer loans on Kukuruza cards. The technological partner of the project is Center of Financial Technologies.
The pilot launch of the Alfa-Bank product “Fast Loan+”, non-purpose crediting through transfer of funds on Euroset Kukuruza bonus program cards, took place at 53 Euroset mobile shops in six regions of Russia*.
Within the Alfa-Bank and Euroset project framework, in the nearest future loans are planned to be given out to borrowers at over 400 mobile shops all over Russia.
To receive a loan on a Kukuruza card a prospective borrower can simply ask an Alfa-Bank officer at a Euroset mobile shop to help fill in a loan application form and receive a bonus card if the customer has none. Kukuruza multiservice cards are issued at Euroset mobile shops within five minutes free of charge, commission or recurring service fees.
The borrower needs only two documents in order to submit the Alfa-Bank loan application for consideration: Russian passport and an additional document (foreign passport, driver’s license, state pension insurance certificate, policy of obligatory medical insurance).
The loan amount makes from 10 to 40 thousand rubles for 6 to 8 months**.
Cash is credited to the Kukuruza card right after the receipt of the bank’s approval of the loan application and signing of the loan agreement.
This format of cooperation between Russia’s biggest mobile retailer and biggest private bank will allow offering borrowers a brand new product with substantial market potential. The Kukuruza card combines the opportunities of MasterCard payment system, Euroset coalition loyalty program, money transfer card and tool for payment for goods and services in retail and business establishments and for the Internet all over the world. The possibility to receive non-purpose consumer loans on this card makes this product universal.
*The list of the company’s mobile shops providing the service of non-purpose crediting through crediting of cash to Kukuruza bonus program card in cooperation with Alfa-Bank is represented on the Euroset website.
Euroset is Russia’s major company founded in 1997 and engaged in mobile retailing. The company’s basic activities are retail trading of mobile phones, portable devices, accessories and other goods, as well as linking of subscribers to mobile service providers.
The company’s shops provide not only the technical specialties of mobile electronics market but also a wide range of additional services. Today Euroset renders services of purchasing of and payment for air tickets, tourist trips, tickets to entertainment and sports events, execution of non-state pension insurance certificates, paying of STSI (State Traffic Safety Inspectorate) fines, making of subscriber payments for satellite television and loan payments, setting of a mobile phone etc.
At present the company has 5,040 mobile shops in Russia and Belarus. The company’s share in the Russian cellular phone market makes 32% at the end of the third quarter of 2011.
Euroset is Russia’s biggest non-food network in profitability indicators, EBITDA and net profit margin in 2010 according to Best Retail - 2010, leader in Reputation – 2010 professional rating, and Absolute Brand 2011 prize winner.
Kukuruza card is a Euroset loyalty card that is a multiservice bank card of MasterCard payment system, that can be used for non-cash settlements, receipt of express loans, making of intercity calls at flexible rates, performance of international money transfers, purchase of goods and services in Russia and abroad, receipt of bonus points for further payment of goods and services at Euroset mobile shops and partner companies. The card does not require service fees.
Prepaid bank cards are issued by Payment Center (LLC) NSCA. License of the Bank of Russia No.3166-К.
Alfa-Bank was founded in 1990. Alfa-Bank is a universal bank performing all kinds of bank transactions on financial services market including individuals and corporate customers, investment banking business, trade financing and asset management.
Alfa-Bank is Russia’s major bank by assets, equity capital, loan portfolio and customer accounts. According to IFRS at the end of the first half-year of 2011 the total assets of Alfa-Bank bank group that includes Alfa-Bank OJSC, subsidiary banks and financial companies, made 31.5 billion US dollars, the total stock amounted to 3.5 billion US dollars, and the total loan portfolio equaled to 21.4 billion US dollars. The net profit for the half-year made 275 million US dollars.
As of September 1, 2011 Alfa-Bank services circa 48 thousand corporate customers and 5.7 million individuals. 442 bank branches and outlets were opened in Moscow, regions of Russia and abroad, including a subsidiary bank in the Netherlands and financial subsidiary companies in the USA, Great Britain and Cyprus.