Mastercard has partnered with Latitude to offer buy now pay later to members.
In Brief:
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LatitudePay users will be able to ‘pay later’ wherever they can use Mastercard.
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This should be available across Australia and New Zealand in 2020.
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Payments will be spread across 10 interest free monthly instalments.
What does this mean?
Buy now, pay later is becoming increasingly popular especially for consumer goods such as fast fashion, especially made popular by Klarna. Latitude will offer a quick sign up and real-time approval, but the roll out early next year will miss the busy Christmas period when customers are often tempted to avail of credit.
