Mastercard Inc unveiled on Tuesday a buy now, pay later (BNPL) program that will allow consumers to pay for online and in-store purchases through equal and interest-free installments.
The Mastercard Installments program will be available in markets across the United States, the United Kingdom and Australia, the company said.
The company also said it will work on the BNPL program with banks and fintech firms, including Barclays Plc’s U.S. unit, Fifth Third Bancorp, Marqeta Inc, and SoFi Technologies Inc, in the United States, and Qantas Loyalty and Latitude in Australia.
