The Installments Ecosystem
Consumers are looking for the flexibility to pay how they want, when they want, without breaking the bank. With Visa’s Installment solution∗, we enable participating issuers to offer, and participating sellers to display, installment plans to select existing Visa cardholders.
Visa Installments gives eligible cardholders the option to pay for qualifying purchases with the cards already in their wallet, and there is no need for another line of credit. There is no additional borrowing to track and remember, no separate company to pay, and no other brand knowing your business. It provides shoppers the ability to divide their total purchase amount into smaller, equal payments made over time, with transparency at around when and what they will be required to pay.
Beyond the consumer appeal, offering installments can increase average ticket size and average conversion rate for merchants. For issuers, offering more flexibility to customers encourages loyalty. We are working closely with Buy Now, Pay Later lenders as they build out their Canadian presence and expand their merchant bases, to enable solutions to further extend the installments footprint across networks.
Our global vision is an installment solution built on the foundation of trust and responsibility – one that benefits both consumers and merchants alike.
We’re excited for what’s to come, and will have big news to share soon as we work with our financial institution and other partners to roll out more options and innovations in the growing installments space.
Learn more about Visa Installments.