Mastercard is currently building out a buy now, pay later offering to compete with challengers in the market.
In Brief:
Some new partners are American Airlines, CSI and Fiserv.
The BNPL offering will enable banks and FinTechs on the Mastercard platform to offer their own BNPL experiences to merchants.
These include various options such as “pay in four”.
What does this mean?
Mastercard aims to offer installment payments through its partners to a range of merchants so they do not have to turn to challengers such as Klarna – it is deploying open banking in the US and Europe to be able to run affordability checks.
