Installment purchases from online stores in Iran have now become a more complex issue than before. Individuals' credit ratings are no longer limited to their history of loans and bounced checks. Nowadays, with the expansion of credit scoring, a wider range of financial behavior information is considered for assessing repayment risk. This information includes financial convictions, tax payment status, and traffic violations.
Expansion of Installment Purchase Services and the Role of Fintechs
The expansion of installment purchase services and digital lending has made the role of fintech companies more prominent in credit scoring equations. For example, a delay in paying installments of a credit service, if reported to the relevant systems, can have effects beyond the relationship between the customer and the lending company. Currently, companies like SnappPay, Tara, DigiPay, and Lendo are active in the digital credit market, and their customers may have multiple financial commitments simultaneously.
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New Dimensions of Credit Scoring in Iran
In the new credit scoring model in Iran, other indicators have also been introduced to assess individuals' financial behavior. According to explanations from officials of the Iranian credit scoring company, repayment histories of facilities, checks, financial convictions, tax payment status, and traffic violations are among the important information in this model. This change in approach aims to provide a more comprehensive picture of individuals' credit risk.
However, the inclusion of a factor in the credit scoring indicators does not mean that every debt or violation automatically reduces an individual's score. The weight of each indicator and the type of recorded information play a role in determining the final effect. For example, if an individual delays paying their credit purchase installments, this delay can impact their credit risk assessment.
Credit Management in the Digital Age
In this context, not having overdue bank debts does not necessarily mean having a problem-free credit history. If an individual does not pay their credit purchase installments on time on a platform and this delay information is transferred to the credit scoring system, this history may affect their credit risk assessment. Additionally, in the realm of taxes and financial convictions, the focus is on examining information related to individuals' commitments and records.
It is very important to note that the small amount of a credit or obtaining it through an application does not mean that the financial commitment is insignificant. Now, good payment behavior is not limited to regular bank installment payments. Managing debts, timely settlement of commitments, and following up on potential discrepancies have become more important for individuals using digital credit services.
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