MasterCard joins competitors Monzo and Revolut
MasterCard is set up to implement the “Buy Now, Pay Later” feature.
The service allows people to pay in interest-free installments across the UK, the US and Australia.
– Advertising –
MasterCard’s move is the latest as many companies are exploring newer versions of credit.
Other companies include Revolut and Monzo, but Apple is said to be exploring its offering in the region.
MasterCard’s Chief Product Officer Craig Vosburg said MasterCard installments are “a digitally-centric payment method for today and tomorrow, the merchant of their choice, and the most reliable with consumer banks and other lenders. It was provided through the relationship.”
Critics believe it’s not awkward for customers as they are more likely to take on more debt.
