“Buy now, pay later” just got an upgrade
Understanding that consumers are seeking more control and flexibility in the way they pay, Mastercard developed Mastercard Instalments to bring a fresh repayment option to the marketplace. The service is designed to give cardholders the flexibility and control of paying for purchases at a pace that works for them. Whether shopping online or in-store, cardholders can choose their installment plan right at checkout, with full transparency.
Mastercard Instalments is now live in Romania with BRD Groupe Societe Generale. With the unsurpassed Mastercard acceptance footprint, BRD Mastercard credit cardholders will have access to the service at merchants across Romania. The service is expected to expand into select European markets in early 2017, with additional international availability in the near future.
“We believe the future of payments will be about choice and experience. That means embedding the best features and services into our products so cardholders can pay easily and securely however they want, wherever they are,” says Francis Hondal, Executive Vice President, Credit and Loyalty Solutions, Mastercard. “The innovation around Mastercard Instalments is its simplicity, convenience & flexibility. Consumers won’t need to look beyond their own wallet to enjoy a world-class repayment option.”
“We’re excited to bring Mastercard Instalments to Europe,” says Andrew Buckley, SVP, Core Products, Europe for Mastercard. “There are a number of pilots in the works. The response from our issuer and acquirer partners has far surpassed our initial expectations, as we all seek to bring innovative solutions to market that best meet the evolving needs of consumers.”
In addition to providing a new payment option at checkout, issuers can offer Mastercard Instalments to their cardholders for use before or after purchase – delivering enhanced choice at any time in the purchase process. For cardholders, that means they can decide after purchasing that new TV or flight that they’d rather repay it in fixed installments. For issuers, Mastercard Instalments represents a new way to bring value to their customers across credit, debit and commercial cards.