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// REGIONAL ROUND-UP // AFRICA | APAC | EUROPE | MIDDLE EAST | NORTH AMERICA
MIDDLE EAST
MASTERCARD AIDS MERCHANTS BY GIVING CONSUMERS MORE PAYMENT CHOICES
Mastercard has expanded Mastercard Instalments , its unique and innovative Buy Now , Pay Later ( BNPL ) programme that delivers greater choice at checkout , both in-store and online , in the United Arab Emirates ( UAE ) and the Kingdom of Saudi Arabia ( KSA ). The BNPL programme will meet growing consumer demand for flexible , digital-first payment options and support the region ’ s e-commerce ecosystem through a new programme focused on providing consumers choice .
Mastercard Instalments – set to go live later this year – uses the power of the company ’ s trusted network to make BNPL available to millions of consumers and merchants worldwide . It enables banks , lenders , FinTech companies and wallets to offer a variety of flexible instalment options to consumers , including a 0 % interest , pay-in-four model . Implementation is handled by Mastercard and the acquirer , with no lift to the merchant , to offer this new payment choice and no disruption to the existing customer experience .
Mastercard is working with leading partners representing a significant market share in the region , including Abu Dhabi Commercial Bank ( ADBC ), Network International and National Bank of Ras Al Khaimah ( RAKBANK ) in the UAE and Saudi National Bank ( SNB ) in Saudi Arabia . The solution sits alongside several bespoke BNPL go-to-market models that Mastercard is developing with its digital partners across a variety of sectors including mobility , retail and marketplaces .
“ Above everything , consumers today demand flexibility and choice . With Mastercard Instalments , we
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IT ENABLES BANKS , LENDERS , FINTECH COMPANIES AND WALLETS TO OFFER A VARIETY OF FLEXIBLE INSTALMENT OPTIONS TO CONSUMERS , INCLUDING A 0 % INTEREST , PAY-IN-FOUR MODEL . want to give people the choice to pay how , when and where they want . This most recent product innovation builds on the trust between businesses and their customers with Buy Now , Pay Later options benefitting everyone in the ecosystem . As Mastercard continues to design solutions for an evolving digital economy , we see BNPL becoming a standard for shopping and we look forward to implementing this offering in the UAE and Saudi Arabia later this year ,” said Khalid Elgibali , Division President for the Middle East and North Africa , Mastercard .
The Mastercard Instalments programme helps merchants scale BNPL offerings to consumers to turn convenience into a competitive advantage . BNPL solutions have been shown to increase average sales by 45 % and reduce cart abandonment by 35 % post-implementation . Mastercard Instalments provides seamless merchant integration with a streamlined process for millions of merchants who already accept Mastercard . Meanwhile , acquiring banks can offer instalments capabilities to their entire merchant base with minimal , simple integration .
Fuelled by changing consumer spending habits during the pandemic , BNPL adoption continues to accelerate globally . In addition to consumer demand , the momentum is being driven by issuer and merchant desire to deliver new , complementary ways for consumers to shop both in-store and online . �
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