The programme, Mastercard Installments with Pine Labs, enables DBS Bank clients and POSB credit cardholders to pay for their purchases in interest-free installments. The new service is set to launch later in March 2022 in Singapore, followed by Indonesia and Hong Kong in Q2 2022.
DBS Bank is reportedly the first regional issuer in Asia to offer the BNPL service, with highlights like instant installment approval at checkout, flexible repayment times with no interested charge, and availability to clients using Mastercard, Visa, and American Express cards.
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