May 21, 2019
Mastercard has entered an agreement with Divido and Lastminute.com to provide instant financing that will allow consumers to set up installment payments for trips and vacations at the point of purchase.
The Divido platform connects consumers to multiple lenders at the point of purchase — in person, online or via mobile device. The customer applies for financing during the checkout process, providing personal information and choosing a loan duration. This information is is sent to Fly Now, Pay Later via API. If the customer's application is approved, the transaction is completed under the instant financing terms.
Divido CEO Christer Holloman said in the announcement that enabling choice through multiple lenders is a winner for consumers and, at the same time, gives retailers a competitive edge on big ticket items, boosting loyalty, average order size and conversion rates.
Divido provides white-label, point-of-purchase lending for retailers and companies, and works with more than 1,000 partners, including Mastercard, lastminute.com, BNP Paribas, BMW and others.
Topics: Card Brands, POS, Retail
Companies: MasterCard
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