Home Tech MultiPay and Mastercard bring BNPL to Ireland’s high street retailers

MultiPay and Mastercard bring BNPL to Ireland’s high street retailers

154
0
MultiPay and Mastercard bring BNPL to Ireland's high street retailers


Payments technology company MultiPay is to bring installments payments to Irish brick and mortar stores through a tie-up with Mastercard.

When set up in-store, a consumer heads to a sales assistant who has an Android payment terminal to complete their transaction using their Mastercard credit card. The Andrioid device connects with the retail merchant’s existing bank account, confirming eligibility for credit and details of the monthly instalment plan.

Maastercard Instalments enables retailers to offer a variety of flexible payment options to consumers – including a zero percent interest, pay-in-four model – without onerous integration into the merchant infrastructure.

The card cheme relies on recently-acquired open banking outfit Aiia in Europe to use consumer permissioned data tied to debit or bank account credentials to run afforability checks on applicants.

“Consumers now expect the same features and services they have become familiar with on-line to be part of the in-store experience too,” says David Maisey, CEO of MultiPay Global Solutions. “We want to allow Irish retailers to offer in-store instalment payments as simply and easily as possible. This has led to the launch of our MultiPay Instalment product, a new payment solution enabled by Mastercard that gives Irish consumers added control with how they pay, improving the customer experience, but without increasing costs or complexity for merchants.”

https://www.finextra.com/newsarticle/40255/multipay-and-mastercard-bring-bnpl-to-irelands-high-street-retailers?utm_medium=rssfinextra&utm_source=finextrafeed

Previous articlePrince Harry’s ex Chelsy Davy ‘ties the knot’ months after welcoming baby
Next articleUK unemployment falls to lowest level in nearly 50 years