The reason behind this initiative is to offer consumers the flexibility of zero-interest instalments on purchases, expand business for merchants, and connect banks, fintechs, payment gateways, and device makers to a rapidly growing financing alternative.
The Mastercard and Pine Labs solution enables instalments via credit cards, debit cards, and bank accounts across in-store and online merchants. Lenders and merchants benefit from a single access point into an instalments network that is easy to integrate and quick to scale.
By combining the expertise and technology assets of Mastercard and Pine Labs, the expansion adds to their existing ‘pay later’ partnership in India and Malaysia that started in early 2020. The solution will be rolled out in Thailand and the Philippines in February, followed shortly by Vietnam, Singapore, and Indonesia.
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