The marketplace previously offered a branded bank card issued by a partner bank that enabled users to receive only cash back when making purchases. The new Ozon Card is an independent financial product from Ozon, issued by its own bank, which has a universal license. By using the Mir payment system, the bank card will be accepted everywhere in Russia as well as in a number of foreign countries.
One of the benefits of the new Ozon Card is that it will offer discounts of up to 30% on items purchased through the marketplace. According to customer surveys, discounts are an important driver of purchases—marketplace customers consider them worth more than cash back. The platform previously provided such discounts to users of Ozon Account, which will now be replaced by the Ozon Card. This is a more versatile payment instrument: Ozon Account enabled users to pay only for purchases made through the marketplace, whereas the Ozon Card can be used for purchases on any platform while, at the same time, enabling them to receive cash back. Users will be able to receive up to 10% cash back on items in their choice of three categories, and up to 1% on other purchases.
“The new Ozon Card combines the most popular features to make it as beneficial and convenient as possible for all purchases,” said Vae Hovasapyan, Ozon’s Fintech Director. “By offering discounts of up to 30% on Ozon purchases, some 6 million Ozon Account users have already joined up. The Ozon Card is the next stage in the development of financial products issued by Ozon’s own universal bank: it enables users to receive a financial benefit when making purchases outside the marketplace, and in the future cardholders will have access to new services—for example, payment in installments, overdraft and savings accounts.”
Today, the first 100 thousand Ozon users will be offered a chance to test the Ozon Card. Starting August 1, the card will be available to everyone.
For users who already have an Ozon Account, an Ozon Card will automatically be added in their personal account. In order to enable the card for use outside the marketplace as well, users will need to confirm their identification online, which takes just a few minutes. After that, the Ozon Card will become a full-fledged bank card offering cash back on any purchases outside the marketplace. A virtual card will immediately appear in users’ personal accounts, and they can get a plastic card delivered along with an Ozon order by courier or at a pickup point.
There is no application or service fee for the card, and there are no charges on the replenishment or withdrawal of funds or on cash withdrawals from any ATMs up to RUB 50 thousand per month. Transfers can be made from Ozon Cards and balances can be replenished through the Faster Payments System.
In July, Ozon completed a partnership with Credit Union Payment Center, through which the Ozon Card with cash back for purchases was issued.