Mastercard Offers Installments in Buy-Now, Pay-Later Boom
The Mastercard office in New York, U.S.
Photographer: Amir Hamja/BloombergThis article is for subscribers only.
Mastercard Inc. will make it easier for banks to offer installment plans as consumers flock to options for paying off purchases over time.
Such buy-now, pay-later options have swelled in popularity in recent years, especially among younger consumers. With Mastercard’s new push, lenders will be able to approve consumers for an installment loan before a purchase or offer the option during checkout, the company said in a statement Tuesday.