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