Russia's CBR registers Yandex subsidiary NewPay as installment service operator

The Central Bank of Russia added Yandex-owned NewPay LLC to its registry of installment service operators, formalizing Yandex's entry into the buy-now-pay-later (BNPL) market. This regulatory approval enables Yandex to expand its fintech offerings, potentially intensifying competition in Russia's consumer credit sector. The move signals continued growth of Russia's domestic fintech ecosystem despite international sanctions.