Mastercard has clearly seen the writing on the wall with the recent IPO of Afterpay, and the proliferation of similar buy now, pay later services, launching its own BNPL service.
The Mastercard Installments program was launched overnight, and allow users to pay for in-store and online purchases in equal and interest-free installments.
It will also allow merchants, other banks, and wallets to offer these services to its customers.
Apple and Goldman Sachs are among the numerous companies working on a similar PNPL offerings, suggesting that Afterpay’s float came at the perfect time for the Aussie company.
