ChargeAfter, Visa pilot instalment payments in the US

Wednesday 15 July 2020 09:29 CET | News

Visa has revealed it is offering instalment payments, allowing the option to pay in a set number of equal payments for something at the POS, which is welcomed by a majority of US millennials.

The company’s instalment solutions are becoming a key element of Visa’s strategy to help its clients and partners give eligible consumers more flexibility to pay by simply using their existing Visa credit cards at checkout.

In addition, Visa is working at an accelerated speed to kick off pilots in the US and unlock new ways for partners and clients to interact with shoppers by giving consumers more choices of how they pay. As such, TSYS, Global Payments Issuer Solutions business, will be the first issuer technology partner to offer Visa’s new instalment solution at the POS where participating financial institutions can offer instalment plans to their cardholders. Commerce Bank is the first bank in the US to begin the instalments pilot on a limited number of Commerce Bank Visa credit cards, leading up to commercial launch in fall 2020.

ChargeAfter is the first partner to launch Visa instalments in the US with two of clients, 42nd Street Photo and Tire Agent, who are now offering Visa’s instalments solutions to their eligible US buyers. ChargeAfter is also working with Cybersource, Visa’s global payment management platform, to bring instalments payment capabilities to Cybersource’s sellers worldwide. The RoomPlace is offering Visa’s instalment solutions as a payment option for their eligible buyers, while sellers who work with Kibo Commerce will soon be able to offer Visa’s instalments by deploying a customised app from Kibo’s marketplace.

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Keywords: Visa, instalment payments, US, POS, banks, partnerships, online payments
Categories: Payments & Commerce
Countries: United States
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Payments & Commerce

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