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Beyond the Transaction: Every Transaction Has a Story

Meet Instalments, Our Newest API, at Mobile World Congress

If you’re one of the lucky 100,000-plus people to descend upon Barcelona next week for Mobile World Congress, you’ll bear witness to a dizzying array of the new, the shiny, the “better than ever.” The Mastercard booth (Hall 5, 5D61) is a testament to that, where you’ll be able to experience solutions like Masterpass, Mastercard Send, Masterpass QR, and our cutting-edge work with robots and chatbots. Visitors will also get to check out a new offering called Mastercard Instalments.

Mastercard Instalments is an innovative way to pay that gives people greater control over their finances and more convenient access to funds when they need them using their mobile banking app or in-store at checkout.  Eligible cardholders can split transactions across equal monthly installments using their existing credit, debit or commercial card, with full transparency into the terms and timing. This makes high-value purchases, such as a new TV or car repairs, more attainable and manageable.Instalments image

Users can select an installment plan right at checkout, in-store or online. They can also choose installments after the fact, or even before they buy, using their bank’s app.

Making life easier and better for cardholders by granting them the control that research has shown they’re looking for has been the motivation behind our creation of Instalments. There’s also considerable behind-the-scenes work to make life easier and simpler for our customers through APIs, which will be on display at Mobile World Congress.

The Mastercard Instalments APIs are light and easier for customers to integrate into existing systems and processes. For instance, this allows our bank customers to use their current infrastructure such as banking apps while providing enhanced experiences to their cardholders and maintaining that direct relationship.

There are five Instalments APIs in total, geared to issuers, payment service providers and POS terminal providers. We anticipate them to be ready for market this summer, with customers fully up and running later this year.

Currently, 39 APIs are accessible in total on the API platform launched last fall. We will also continue to open up our experimental APIs, giving developers early access that will help them explore new categories such as augmented and virtual reality, internet of things and other mobile commerce solutions.

In the last year alone, Mastercard saw a 400 percent increase in the in the usage of our APIs. We envision that to grow even more as we continue to build out our API offerings.

If you’re attending Mobile World Congress, I invite you to come check out our Instalments demo app and take a look at how else we’re influencing the future of commerce.