Mastercard is launching a point of sale installment payments offering.
In Brief:
The buy now, pay later offering is called Installments and is available in the UK, US and Australia.
It will enable banks, lenders, FinTechs and wallets in the Mastercard ecosystem to offer BNPL experiences.
A number of options, such as zero interest, pay in four, are available.
What does this mean?
The service will enable individual companies on the Mastercard platform to offer buy now, pay later services – competing with external parties. It’s achieving this through open banking and an ecosystem of partners.
