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Mastercard has announced an expansion of its U.S. Installments program to encompass all eligible digital points of sale, enabling merchants, financial service providers, payment processors, and digital wallets to offer installment payment options to consumers with eligible credit cards from participating issuers, according to a press release on Friday (Oct. 25).
“Consumer interest in installment options has grown significantly as digital payment solutions become more accessible across various channels,” said Seema Chibber, Executive Vice President of Core Products at Mastercard, North America. “This momentum is driven by the desire of issuers and merchants to offer consumers flexible, transparent ways to pay.”
This expansion allows participating issuers to extend card-based installment offers across multiple consumer payment channels. Merchants can connect to Mastercard’s API-based platform to provide pre-approved installment offers, giving consumers the flexibility to spread out their purchases over time.
“Through Mastercard’s personalization capabilities, issuers and merchants can present eligible consumers with tailored installment payment options,” the company said, enhancing consumer flexibility and control over larger purchases like travel and shopping.
Research shows that 50% of consumers are more likely to shop with merchants offering installment options linked to their existing credit cards, with 33% preferring credit card-based installments for high-value purchases. Merchants also benefit from this trend, as 70% prefer installment options tied to general-purpose credit cards over other pay-later alternatives, and 57% believe that offering these options helps retain customers.
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