Visa takes on AfterPay
(27 June 2019 – Global) Visa has introduced a suite of APIs to help financial institutions and retailers offer their customers the option to pay off purchases in instalments, putting them in direct competition with new entrants such as AfterPay and Zip.
Instalment and layby payments is a fast-growing sector, occupied by startups after having been overlooked by the big incumbents and card schemes.
Visa’s new offering will make it easy for businesses to give consumers the ability to pay using Visa cards, splitting the purchase into small, equal payments over a defined time.
The suite is part of the new Visa Next platform, a site giving issuers and merchants access to a host of APIs and development tools for building and testing digital payment products.
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