Tag: Delves

Mastercard Delves Deep Into POS Financing With Fintech Jifiti

Mastercard Inc. MA has expanded its partnership with fintech company Jifiti to continue providing point of sale (POS) financing. The agreement allows both merchants and issuers to offer credit and consumer financing to Mastercard holders.

POS  financing is a kind of buy-now-pay-later (BNPL) facility. BNPL space as a huge market opportunity and is likely grow further. Per the company’s research, nearly three-fourth consumers interested in installments prefer the feature to be added to their existing card. Also, three of four Americans who tried the installment plans for the first time during the pandemic intend to continue doing so after the coronavirus dies down. This reflects customers’ growing desire for such solutions.

Given that e-commerce gathered much steam after the COVID-19 outbreak, buyers resorted to online buying. They are also demanding financing support as most of them are facing financial constraints from job losses, low earning from business, etc. This staggered

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Mastercard Delves Deeper Into BNPL Space With Global Payments

Mastercard Inc. MA has partnered with Global Payments Inc. GPN subsidiary Total System Services(TSYS) to help issuers and merchants in North America provide flexible payment options to its cardholders.

The partnership will aid customers holding Mastercard cards to break up the payment for their purchases into parts or installments. There will also be an option to avail of this facility before, during or after the checkout.

TSYS, a leading provider of processing and supporting services for the commercial card portfolio of several banks, is a perfect fit to enhance Mastercard’s buy-now-pay-later (BNPL) ecosystem. BNPL is a payment solution, enabling customers to choose a financing plan and pay in installments instead of paying the entire cost upfront for their purchases.

The BNPL feature gained demand on a rapid escalation in e-commerce following the COVID-19 outbreak. BNPL is a win-win proposition for all the parties involved in a transaction, such as consumer,

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