As digitally accelerated space continues, consumers are expecting to pay in a seamless, safe, and secure way whether in-store or online. They want more control and flexibility that meets their comfort. Engage network provides a connection between the businesses and fintech enablers so that the consumers get more choice at checkout through Mastercard Installments. Installment payments are also termed as buy now, pay later (BNPL), which offers people the flexibility to finance their shopping experience. It is a digital-focused way for payments which acts as an additional choice for the debit, credit or prepaid cards. Mastercard Installments is gaining traction with global partners from across the ecosystem. The program enables banks, lenders, fintechs and wallets the ability to offer installment loan experiences at checkout across Mastercard’s extensive merchant network. Mastercard Installments was built on the company’s guiding principles to enable choice without sacrificing trust and security. No matter how you pay, a foundation of strong protections must be in place.
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The following providers are joining Engage to scale products for greater transparency and simplicity:
Amount: Platform that powers end-to-end consumer, installment payment, and small business solutions.
Canopy: Flexible loan management platform to build, launch and scale innovative credit, debit and lending products, and support them with world-class service in a secure and compliant way.
Galileo: Leading financial technology company whose platform, open API technology and proven expertise enables the development of differentiated financial solutions globally.
Jifiti: Leading fintech company that powers white-labeled BNPL solutions for banks, lenders and merchants globally through its robust, easy-integration platform.
LiftForward: Growth engine that designs and scales embedded finance solutions that power installment programs for global brands, merchants and banks.
Paywallet: Payroll-linked solution provider that verifies consumer income and employment, and enables credit access while reducing bank, lender, and merchant risk with greater assurance of repayment.
Peach Finance: The leading modern loan management and servicing technology platform, helping lenders quickly launch and confidently scale lending programs.
“The Mastercard Installments program taps the power and scale of the Mastercard network to instantly support secure installment payments at checkout, both in-store and online, and enables more choice for consumers,” said Blake Rosenthal, EVP, Fintech & Segment Solutions at Mastercard. “To increase speed to market for Mastercard Installments solutions, customers can easily access the Engage directory of agile, qualified technology providers that meet their specifications for product capabilities, geographies and more.”
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As interest from shoppers and independent companies develops for portion arrangements, Mastercard is extending its Connect with accomplice organization to incorporate agile innovation suppliers that can put up new items for sale to the public quicker and make portion encounters accessible to a huge number of purchasers around the world. Through Connect with, Mastercard offers moneylenders the capacity to pick the most proper innovation supplier that can rapidly and effectively assemble and convey altogether advanced arrangements at scale utilizing the creative Mastercard Portions program. These fintech and specialist co-ops will offer different abilities for portions covering credit decisions, moment issuance, misrepresentation of the executives, and advance overhauling and that’s just the beginning. Somewhat recently alone, in excess of 150 innovation suppliers partaking in the Draw in accomplice network have assisted their clients with sending new, imaginative arrangements on in excess of 500 million records utilizing Mastercard items and administrations. Individuals from the Draw in accomplice network have chances to sell and convey their answers in different business sectors and find new clients, gain permeability and validity through the Connect with the entryway, access items, and arrangement instructional meetings and associate with engineers who can resolve specialized questions.
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