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,