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  • Writer's pictureMagdalena Gołębiewska

Instalments by Visa!

Visa has introduced a suite of APIs to help financial institutions and retailers offer their customers the option to pay off instore and online purchases in instalments.

Instalment payments is a fast growing sector, with nearly three in four credit cardholders in the US believing that the option is helpful for budgeting and 70% saying it helps alleviate the stress of large purchases. Well, seems we are living on Instalments and Credit. On the one hand sad that we can afford what we want (or we want too much?), on the othe rhand - it opens amazing opportunities for credit institutions.

The space has been occupied by a host of startups, cherry picking a market overlooked by the big incumbents and nibbling at the market share of giant card schemes.

Visa's new instalment APIs will make it easy for firms to give shoppers the ability to pay using Visa cards, splitting the purchase amount into smaller, equal payments over a defined time.

Look at the video below and check how it will work. Another easy way to spend even more money which we don't have on the things which we don't need - how cool is that! I <3 FinTech :D :D :D

Sources: Visa, Finextra, YouTube

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