Repay your way with Mastercard and Verifone instalment app
Mastercard has teamed with Verifone to roll out a new instalment pay application at retailers across the UK.
Called Mastercard Instalments, it is designed for shopping online or in-store, and cardholders can choose their instalment option upon checking out. For example, when purchasing a new TV or flight, customers could repay it in fixed instalments.
It is built on the cloud-based Verifone Commerce Platform, and Verifone developed a “unique” merchant app for the Mastercard Instalments programme which will offer repayment options to consumers at the point-of-sale (POS) payment device in-store.
June Felix, president of Verifone Europe, says it is “initiating discussions with leading UK retailers interested in testing the Mastercard programme this year”.
Mark Barnett, president, Mastercard UK and Ireland, adds that Verifone’s payment devices are “used all over the country” and the agreement gives it the “ability to roll out the programme with retailers large and small throughout the UK”.
In addition, Mastercard Instalments officially launched in Romania, its first global market. BRD Groupe Societe Generale is already offering its cardholders access to Instalments at retailers across Romania, having conducted its first transaction last week.
See infographic below for more details (click to enlarge):
