Visa launches installment payment solution

Friday 28 June 2019 11:43 CET | News

Visa has launched its installment solutions APIs to provide shoppers with the ability to choose how they pay before, during or after purchase.

Through a pilot program, participating issuers and merchants will be able to offer their customers an installment payment experience at checkout using a Visa card they already have in their wallet.

With the solution, Visa cardholders will have the option to divide their total purchase amount into smaller, equal payments over a defined time period on qualifying purchases, at the store and online or while traveling abroad.

Visa is partnering with clients around the world to pilot a variety of installment use cases. CyberSource will be the payment management platform to support Visa’s installments capabilities for its participating merchant clients and acquirer partners that utilise CyberSource for global payments enablement. In addition, MakeMyTrip integrated with Simpl platform and Kotak Mahindra Bank in India, Alpha Bank, eMAG, ING Bank Romania, and PayU in Romania, Russian Standard Bank in Russia and Abu Dhabi Commercial Bank and Mashreq bank in UAE are all piloting Visa’s installments solution.

Scheduled to be available to clients and partners in January 2020, Visa’s installment solutions will be available through Visa Next, a new destination for accessing new solutions in Visa’s product pipeline.

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Keywords: Visa, online payments, installment payment, merchant, Cybersource
Countries: World