Mastercard expands BNPL programme

Mastercard has announced further expansion of its Buy Now, Pay Later (BNPL) offering, with a number of new companies signing up to the programme.

In the US, American Airlines, CSI, Fiserv, and TSYS, a global payments company, have all signed up to the programme.

In Australia, BNPL players hummgroup and Limepay have also adopted the programme.

The new initiative enables banks, lenders, FinTechs, and wallets to offer a number of flexible instalment options for consumers, including a zero per cent interest, pay-in-four model, without merchant integration.

“Our diverse set of new partners demonstrate the versatility, flexibility and agility of our BNPL programme,” said Craig Vosburg, chief product officer, Mastercard. “Mastercard Installments offers a digitally-focused way to pay today and tomorrow, delivered through consumers’ most trusted relationships with their banks and other lenders, at merchants of their choice."

Vosburg added: “The program’s unique, open-loop model provides lenders, merchants and consumers alike the ability to enjoy the benefits of BNPL purchasing, with the security and consumer protections they’ve come to expect from Mastercard.”

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