Mastercard Launches Buy Now, Pay Later Program, Mastercard Installments

Fazzaco learned that Mastercard has launched Buy Now, Pay Later (BNPL) program, Mastercard Installments, to meet growing consumer demand for flexible, digital-first payment options.

Meet the Fazzaco Team at Booth #43 at iFX EXPO International 2021

According to the official press release, Mastercard Installments uses the power of the company’s trusted network to make BNPL available to millions of consumers and merchants worldwide.

It enables banks, lenders, fintechs, and wallets to offer a variety of flexible installment options to consumers – including a zero percent interest, pay-in-four model – without onerous integration into the merchant infrastructure, allowing them to quickly offer secure and competitive BNPL experiences at scale.

​Fazzaco Lucky Draw Time: Sign up with Fazzaco App to Win Mobile for Free

Moreover, the program will first come to market in the United States, Australia, and the United Kingdom (UK), and plan to scale to other markets in the future. Mastercard is working with Barclays US, Fifth Third, FIS, Galileo, Huntington, Marqeta, SoFi, and Synchrony in the U.S., and with Qantas Loyalty and Latitude in Australia. 

As Fazzaco reported earlier, Mastercard has reached an agreement to acquire CipherTrace, a leading cryptocurrency intelligence company. Financial terms of the transaction are not being disclosed, and the acquisition is expected to close before the end of the year, pending certain conditions.