#BNPL #POSFinance / Mastercard, TSYS Team To Expand Installment Payment Offerings

The deal allows Mastercard customers to split transactions into installments before, during or after checkout. It supplements Mastercard’s merchant offerings through application programming interface (API)-based solutions, commercial partnerships and acquisitions, the company said.

[Mercator Advisory Group:] “Adding the installment lending function to a bank card is suitable for all parties in the transaction” … it allows consumers to have a discrete transaction, separate from their general purchasing, while merchants close the sale and have the chance to upsell the customer.

[Mastercard:] “There are a number of things in the market pushing [Buy Now, Pay Later], merchants that want to increase their basket sizes, lenders who are looking to new ways to reach consumers with products, consumers that want choices at checkout – the combination of all of these things have combined together and that is what is driving this market so quickly worldwide”.

https://www.pymnts.com/buy-now-pay-later/2020/mastercard-tsys-team-expand-installment-payment-offerings