On Tuesday, Mastercard Inc announced a buy now, pay later (BNPL) service that allows customers to pay for online and in-store purchases in equal, interest-free installments.
According to the firm, the Mastercard Installments program will be offered in markets around the United States, the United Kingdom, and Australia.
In addition, the company said it will collaborate on the BNPL program with banks and fintech firms in the United States, including Barclays Plc’s U.S. unit, Fifth Third Bancorp, Marqeta Inc, and SoFi Technologies Inc, as well as Qantas Loyalty and Latitude in Australia.
