10:54, 14 May 2020 Page views 809 views

Cash collection market to revive after its fall in March

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b94dd05539681a3bc6d35281fcfd40b0.jpgINKAKHRAN, a major CIT firm, notes that the cash collection market is gradually coming to life after a sharp decline in demand caused by the pandemic and the introduction of a non-working period.

In late March, because of the closure of a bulk of retailers, the number of requests for cash collection services from certain customer groups fell by 50%, the company said. However, by mid-April, the situation began to stabilize. The number of requests for collection increased by 10% over the first three weeks of April. In addition, new niches appear and develop.

“The cash collection market is undergoing a transformation. Those who are able to reorient the model and diversify risks will be a success,” says Moscow Credit Bank First Vice President Yevgeny Pavlov.