Mastercard and Network International launch Installments Program across the UAE

Mastercard and Network International, the leading enabler of digital commerce across the Middle East and Africa, have collaborated to roll out Mastercard Installments in the UAE. The program, which is now available across merchants in the UAE, gives consumers the flexibility to split their purchases into installments across Mastercard’s merchant network – online and in store. It also allows banks, lenders, fintech companies and e-wallets to offer installments to their customers without requiring additional merchant integration, making it a unique proposition in the market.

Mastercard Installments enables shoppers to digitally access installment offers, pre-approved through their bank’s mobile banking app. Shoppers have full transparency on their bank’s policies in this regard up-front during the approval process. To provide a best-in-class experience for consumers and to create a sustainable business model for issuers and lenders, Mastercard has collaborated with Network International to enable Mastercard Installments  at Network International’s merchant terminals in the UAE. This builds on a long-standing strategic partnership between the two companies that focuses on enhancing and strengthening the payment ecosystem in the region.

“At Mastercard, we are committed to expanding the variety of innovative payment solutions available to consumers in the region as part of our efforts to drive digital transformation in the markets we serve. We are delighted to join forces with Network International, our trusted partner in installments technology, to offer UAE merchants and shoppers an innovative digital-first installments solution that allows cardholders to manage their budgets and payments in a more flexible way,” said Gina Petersen-Skyrme, Vice President and Country Business Development Lead, UAE & Oman, Mastercard.

“The UAE’s digital payments landscape is fast evolving, and emerging payment methods, such as installments, play a key role in shaping its future. We are thrilled to partner with Mastercard on its secure and seamless installments proposition that meets the needs of lenders, merchants and consumers. Our collaboration offers merchants and shoppers the convenience of installments, combined with the peace of mind associated with a trusted payments provider, while creating significant growth prospects for our merchants by amplifying their sales,” said Jamal Al Nassai, Group Managing Director for Merchant Services – Middle East and North Africa, Network International.

Mastercard Installments brings multiple benefits to all stakeholders. In addition to empowering consumers to choose how and when they pay for items, it helps merchants and acquirers to scale installments propositions and turn convenience into a competitive advantage. Mastercard Installments is embedded in the core Mastercard network, eliminating the need to make direct settlement arrangements with merchants or acquirers. Shoppers who use installments tend to make repeat purchases and have higher lifetime spend, driving revenue to merchants, issuers and lenders.

Through Mastercard Installments, issuers, digital wallets and installments players can extend their offerings to merchants beyond their existing footprint. Installments providers can also supplement their existing networks with additional merchant acceptance.