Mastercard are seeking to meet the demand for powerful Buy-Now-Pay-Later (BNPL) schemes, especially with familiar and trusted brands. Their new partners will be providing support for the program, including US-based financial institutions such as Cross River, Live Oak Bank, MOCA Financial and WebBank, as well as others from the UK and Saudi Arabia.
Consumer Protections and Data Transparency
As well as providing more payment options, Mastercard Installments will also focus on responsible lending practices to support consumers with an enhanced set of protections such as data transparency and insight-driven programs for product improvement.
Using technology, data and insights, as well as their wealth of consulting expertise, Mastercard aims to create a ‘more intelligent way’ to provide installment lending at scale.