Mastercard has inked a partnership with Verifone to roll out a new installment pay application at retailers across the UK.
With a significant footprint of payment terminals at major retailers, Verifone will help Mastercard roll out the solution for UK cardholders.
Mastercard Installments has been developed to bring a fresh payment option to the marketplace. The service is designed to give cardholders the flexibility of managing their cash-flow and the control of fixed payments at a pace that works best for them. Whether shopping online or in-store, cardholders can choose their installment option upon checking out, with full transparency.
Built on the open, cloud-based Verifone Commerce Platform, Verifone developed a unique merchant app for the Mastercard Installments program which will offer convenient and flexible repayment options to consumers at the point-of-sale (POS) payment device in-store.
Mastercard Installments offers cardholders more choice in the purchase process, so they can decide when purchasing that new TV or flight that they’d rather repay it in fixed installments. For issuers, Mastercard Installments represents a new way to bring value to their customers across credit, debit or commercial cards.
In addition, Mastercard Installments officially launched in Romania, its first global market. BRD Groupe Societe Generale is already offering its cardholders access to Installments at retailers across Romania, having conducted its first transaction successfully last week.
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