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News

Mastercard expands instalment offerings through global partnerships

Wednesday 2 September 2020 14:49 CET | News

Mastercard has partnered with TSYS to enable consumers to use their Mastercard to split transactions into instalments before, during, or after checkout. 

According to the press release, the new partnership complements Mastercard’s comprehensive suite of merchant offerings through API-based solutions, commercial partnerships, and acquisitions across the globe. The initiative comes as three out of four Americans who have tried instalment plans for the first time during the pandemic plan to continue using them after it is over, indicating the desire for solutions that empower consumers is paramount. The suite of Mastercard instalment offerings includes:

  • Pre-Sale: Consumers can predetermine to spread payments over time for specified dollar thresholds and spend categories – such as home improvement purchases over $500 – or can arrange automatic instalments for chosen retailers.
  • Point of Sale: Consumers can receive notifications while shopping, enabling them to purchase goods on an instalment plan integrated with their card. In addition, Mastercard's near real-time capabilities allow cardholders to move their purchase to an instalment plan moments after the purchase is complete without the lift of merchant integration.
  • Post-Sale: Shoppers may choose an instalment plan presented by their issuing bank after a purchase is complete, enabled through the new TSYS partnership using the TSYS Digital Engagement Platform.
Overall, as instalments take hold across the globe, Mastercard is delivering customised, in-market solutions that meet the unique needs of shoppers in every region. This includes a global partnership with Splitit in multiple markets around the world to deliver a way to enable merchants to deliver card instalments at checkout and online, to work in Europe where Mastercard and Divido have partnered to provide instant access to credit through a paperless and omnichannel experience. 

More: Link


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Keywords: MasterCard, TSYS, instalments, instalment payments, checkout, merchant, Pre-Sale, point of sale, cardholders, Post-Sale, TSYS Digital Engagement Platform, card instalments, Splitit, Divido
Categories: Payments & Commerce
Companies:
Countries: World
This article is part of category

Payments & Commerce

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