Mastercard has introduced the option for customers to pay by installment.
They will be able to do so before, during or after checkout.
This has been achieved through a partnership with TSYS, a global payments company.
TSYS will be the first processor to deliver installment capabilities to an issuer.
What does this mean?
Buy now, pay later is an increasingly popular means of payment among consumers, especially online, and Mastercard is keen to add to its offering in this regard. While other organisations like Klarna and Clearpay do allow installment payments, this new offering integrates it with the payment card.