There is a war brewing in the buy now, pay later (BNPL) market, and Mastercard is working with TSYS to bring in a slew of new players — credit card firms.
Just a day after PayPal announced its new Pay in 4 offering, Mastercard has teamed up with payments processor TSYS to create offerings for credit card issuers. The partnership will offer highly configurable, credit card issuer-driven installment options which will provide enhanced consumer payment flexibility.
The products will enable Mastercard credit cardholders to split transactions into installments before, during or after checkout.
“Today’s consumer is looking for increased choice in how they manage their finances and spend while still demanding a seamless, secure checkout experience whether in store or online,” Jess Turner, executive vice president of North America product and innovation at Mastercard, said in a press release. “Our work with TSYS, in conjunction with our wider point of