Business & Money | Tuesday 2 July, 2019 11:40 am |

Visa (NYSE: V) is making it easier to provide shoppers the ability to choose how they pay before, during or after purchase with the introduction of a suite of Visa’s installment solutions APIs. Through a pilot program, participating issuers and merchants will be able to offer their customers an installment payment experience at checkout using a Visa card they already have in their wallet. 

With Visa’s installment solutions, Visa cardholders will have the option to divide their total purchase amount into smaller, equal payments over a defined time period on qualifying purchases, at the store and online or while traveling abroad.

“Visa’s installment capabilities are changing the game by allowing issuers to leverage an existing payment account consumers already have and are familiar with, instead of asking them to submit to a credit check, download an app or open another line of credit,” said Sam Shrauger, senior vice president, global head of issuer and consumer solutions, Visa. “We expect installments to become a foundational method of payment at checkout for both domestic and cross-border commerce payment transactions.”

 

Visa is partnering with clients around the world to pilot a variety of installment use cases. CyberSource will be a leading payment management platform to support Visa’s installments capabilities for its participating merchant clients and acquirer partners that utilize CyberSource for global payments enablement. In addition, 

MakeMyTrip integrated with Simpl platform and Kotak Mahindra Bank in India, Alpha Bank, eMAG, ING Bank Romania and PayU in Romania, Russian Standard Bank in Russia and Abu Dhabi Commercial Bank and Mashreq bank in United Arab Emirates are all piloting Visa’s installments capabilities.