• Email Us: [email protected]
  • Contact Us: +1 718 618 4351
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Mastercard taps into buy now, pay later market with latest offering

September 28, 2021 by David Barret Leave a Comment

September 28, 2021

(Reuters) -Mastercard Inc on Tuesday launched a buy now, pay later service, tapping into a market that is threatening to chip away at the dominance of credit cards as a main source of payments.

The buy now, pay later sector got a boost during the COVID-19 pandemic as cash-strapped shoppers were attracted to the service due to the ease of making part-payments for products they bought online or at stores, without additional costs or fees.

That, in turn, has led to a surge in business at some of the biggest players in the market, including Klarna, Affirm Holdings, Afterpay Ltd and PayPal Holdings Inc, while driving a string of big takeover deals.

In August, Square Inc — the payments firm of Twitter Inc co-founder Jack Dorsey — bought Afterpay https://ift.tt/38N6gF9 in a $29 billion deal, while earlier in September, PayPal said it would acquire Japanese BNPL firm Paidy https://ift.tt/2XVRyJE in a $2.7 billion deal.

Mastercard said on Tuesday its Mastercard Installments program will allow consumers to pay for online and in-store purchases through equal and interest-free installments, adding that it will be available in markets across the United States, the United Kingdom and Australia.

The buy now, pay later option enables banks, lenders, fintech firms and wallets the ability to offer BNPL solutions, Mastercard said. Customers will also be able to access such offers digitally, pre-approved through the lender’s mobile banking app or through instant approval during checkout, it said.

Companies offering buy now, pay later services typically charge merchants a fee for offering small, point-of-sale loans to customers which are paid back in interest-free installments, bypassing credit checks in the process.

Other large companies such as Apple Inc and Goldman Sachs are also reportedly working https://ift.tt/2ZE65e6 on a BNPL offering.

(Reporting by Sohini Podder in Bengaluru; editing by Uttaresh.V)

Source Link Mastercard taps into buy now, pay later market with latest offering

David Barret
David Barret

Related posts:

  1. Tennis: U.S. Open day seven
  2. ProtonMail logged IP address of French activist after order by Swiss authorities
  3. Defy Partners leads $3M round into sales intelligence platform Aircover
  4. U.S. to target ransomware payments in cryptocurrency with sanctions – WSJ

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Rare Antibody Could Reverse “Incurable” Heart Disease, Finds Breakthrough Study
  • Hollow Earth: The Weird And Ancient Theory That The Earth Is Filled With Mole People
  • Wolves Go Fishing More Often Than Anyone Realized, Camera Traps Reveal
  • Watch Hawaiʻi’s Kīlauea Volcano Erupt In This Fiery Livestream
  • Romantic Love May Have Evolved From Ape Bromance
  • Massive “Mountains” Found Deep Within The Earth Are Around 5 Times Larger Than Everest
  • The Grim Reason Eating Fresh Pineapple Makes Some People’s Mouths Bleed
  • First Observations Of Secondary Supermassive Black Hole Within Famous Double-Hole Quasar
  • Crocodiles Seen Reproducing Via “Virgin Birth” For First Time – No Male Required
  • The Tarot Card Riddle – Can You Solve It And Break The Ancient Curse?
  • Orcas Attack Boat Using More Extreme Tactic For First Time
  • Geologists Drilling Deep-Sea Hole Retrieve Deepest Earth Mantle Rocks Ever
  • “Lost World” Of Early Ancestors Revealed In Billion-Year-Old Fossilized Fat Molecules
  • Parker Solar Probe Finds The Source Of Fast Solar Wind Flurries
  • How Loser Synapses Get A “Punishment Signal” To Get Pruned Off
  • How To Treat Jellyfish Stings (Hint: Urine Not Recommended)
  • Derinkuyu: The Ancient Underground Cave City That Can House 20,000 People
  • The Man Who Got Stuck Inside A Cloud For 40 Horrific Minutes
  • Biggest Piece From World’s Largest Iceberg Destroyed In Notorious Iceberg Graveyard
  • Ukraine’s Dam Collapse May Be Europe’s Biggest Ecological Disaster In Decades
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 618 4351
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2023 · Medical Market Report. All Rights Reserved.

Go to mobile version