Tymit becomes a VISA Partner to support instalment credit adoption

Monday 24 July 2023 15:05 CET | News

UK-based credit company Tymit has partnered with Visa to support the adoption of instalment credit among large financial institutions.


Through this partnership, large financial institutions and merchants in the UK and Europe will be able to offer co-branded and white-labelled instalment credit programs powered by Tymit. 

Tymit's instalment credit solutions were designed as an alternative to traditional credit card and BNPL programs, as they are able to address various payment pain points faced by merchants and consumers. According to the company press release, some of the main worries of merchants include losing control over their customer base, lacking adequate affordability checks, facing a lack of protection against fraud, and paying excessive fees. 

Financial institutions and merchants can work with Tymit to gain access to technologies and expertise that allow them to create co-branded credit card programs with instalment options.  By partnering with Visa, Tymit has become a viable option for merchants seeking traditional credit card programs complemented by Buy Now, Pay Later capabilities (BNPL). Moreover, the partnership between Tymit and Visa is set to accelerate the growth of instalment credit programs. 

In the company press release, Visa officials talked about this new partnership and emphasised its potential to empower financial institutions and merchants to meet the changing needs of their customers while offering more flexibility on card payments and enabling an embedded finance ecosystem. 

Representatives from Tymit highlighted the partnership’s goal to empower financial institutions and merchants to swiftly and cost-effectively bring instalment credit solutions to market.


UK-based credit company Tymit has partnered with Visa to support the adoption of instalment credit among large financial institutions.


Other developments from Tymit

In October 2022, Tymit has received GBP 23 million in Series A funding to improve the Buy Now, Pay Later (BNPL) market. Tymit used the funding to accelerate its product development and support the launch of its market-disrupting B2B2C instalment programme proposition for merchants. Following the funding round, the company set out to provide all the benefits of BNPL under merchants’ own brands for free while strengthening their customer relationships through data-driven insights. The company also revealed its plans to invest in its consumer proposition. 

Tymit is authorised by the Financial Conduct Authority (FCA) and Payments Service Regulator (PSR) in the UK to provide consumer credit and payment services and has proven instalment card operating experience. This makes Tymit one of the first regulated BNPL providers in the UK.  Tymit’s proprietary platform was built entirely in-house and provides end-to-end capabilities from onboarding and activation to engagement and servicing.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: partnership, credit access, instalment payments, BNPL, financial institutions
Categories: Payments & Commerce
Companies: Tymit, Visa
Countries: United Kingdom
This article is part of category

Payments & Commerce




Discover all the Company news on Tymit and other articles related to Tymit in The Paypers News, Reports, and insights on the payments and fintech industry:

Industry Events