Visa is developing installment solutions
In the near future, Visa will be releasing capabilities on Visa Developer to allow clients to develop and pilot installment experiences to offer to their customers.*
Introduction to installment payments
Installment payments (installments) refer to the option to pay for purchases over time by dividing the purchase amount into smaller equal payments. Consumers will typically use installments to buy media and large ticket items (e.g. electronics, furniture). But in some markets, they may even use them to make everyday purchases (e.g. groceries, retail). So, what’s the key benefit for consumers with installments? They get to spread their purchases, including transparent fees, into periodic (usually monthly) repayment amounts.
Common installment payments models
There are three primary models in the global installment payments landscape: Pre-Purchase, During Purchase and Post-Purchase. These models differ based on when the consumer is offered installments, who presents the installment payments plan, and who pays for the cost of providing credit.*