April 16, 2019Uncategorized

Mastercard moves into POS financing with Vyze acquisition

Finextra

Mastercard is moving into the POS financing space with the acquisition of installment payments platform Vyze.Vyze connects merchants with multiple lenders, allowing them to offer their customers a wide range of credit options online and in-store at the point of purchase. The platform provides merchants with simple APIs to reroute credit requests to customer banks.

The buy-now-pay-later market is currently being driven by a host of non-bank fintech startups. Figures from Accenture estimate that in the US alone, banks could be missing out on a $1.8 trillion opportunity.

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