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    Ethiopia and the World Bank sign financing agreements worth $745 million

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    Nigeria extends deadline to swap old currency notes by 10 days

    Nigeria extends deadline to swap old currency notes by 10 days

    Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

    Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

    Ethiopia and the World Bank sign financing agreements worth $745 million

    Ethiopia and the World Bank sign financing agreements worth $745 million

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    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

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    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa startups defy funding slump as debt financing fuels growth

    Africa startups defy funding slump as debt financing fuels growth

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    Port of Maputo achieves new handling record, sees soaring chrome throughput

    Court told Anglo turned blind eye to Zambian lead poisoning

    Court told Anglo turned blind eye to Zambian lead poisoning

    Ethiopian Airlines set to fly to Atlanta

    Ethiopian Airlines set to fly to Atlanta

    Angola: Poor Management of the Petroleum Sector with Effects on Declining Production

    Angola Sonangol plans to list on Angolan stock exchange by 2027

    Nigeria artists conquer the NFT marketplace in Africa

    Nigeria artists conquer the NFT marketplace in Africa

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    Nigeria launches payments card program to rival Visa and Mastercard

    Nigeria launches payments card program to rival Visa and Mastercard

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    Yellow Card expands payment feature across Africa

    Yellow Card expands payment feature across Africa

    Government starts payment of $674,5 trillion matured securities

    Government starts payment of $674,5M matured securities

    South African rand steady with investor focus on Fed minutes

    South African rand steady with investor focus on Fed minutes

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

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    Angola banks entry into local Bourse gives credibility to economy

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Mastercard taps into buy now, pay later market with latest offering

TAB by TAB
11/10/2021
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Mastercard taps into buy now, pay later market with latest offering

Mastercard taps into buy now, pay later market with latest offering

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Sept 28 (Reuters) – Mastercard Inc (MA.N) on Tuesday launched a buy now, pay later service, tapping into a market that is threatening to chip away at the dominance of credit cards as a main source of payments.

The buy now, pay later sector got a boost during the COVID-19 pandemic as cash-strapped shoppers were attracted to the service due to the ease of making part-payments for products they bought online or at stores, without additional costs or fees.

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Nigeria launches payments card program to rival Visa and Mastercard

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30/01/2023
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Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

26/01/2023
1

That, in turn, has led to a surge in business at some of the biggest players in the market, including Klarna, Affirm Holdings (AFRM.O), Afterpay Ltd (APT.AX) and PayPal Holdings Inc (PYPL.O), while driving a string of big takeover deals.

In August, Square Inc (SQ.N) — the payments firm of Twitter Inc (TWTR.N) co-founder Jack Dorsey — bought Afterpay in a $29 billion deal, while earlier in September, PayPal said it would acquire Japanese BNPL firm Paidy in a $2.7 billion deal.

Mastercard said on Tuesday its Mastercard Installments program will allow consumers to pay for online and in-store purchases through equal and interest-free installments, adding that it will be available in markets across the United States, the United Kingdom and Australia.

The buy now, pay later option enables banks, lenders, fintech firms and wallets the ability to offer BNPL solutions, Mastercard said. Customers will also be able to access such offers digitally, pre-approved through the lender’s mobile banking app or through instant approval during checkout, it said.

Companies offering buy now, pay later services typically charge merchants a fee for offering small, point-of-sale loans to customers which are paid back in interest-free installments, bypassing credit checks in the process.

Other large companies such as Apple Inc (AAPL.O) and Goldman Sachs (GS.N) are also reportedly working on a BNPL offering.

Reporting by Sohini Podder in Bengaluru; editing by Uttaresh.V
Source : https://www.reuters.com/business/finance/mastercard-launches-buy-now-pay-later-program-2021-09-28/
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