Payments technology company MultiPay is to bring installments payments to Irish brick and mortar stores through a tie-up with Mastercard.
When set up in-store, a consumer simply heads to a sales assistant who has an Android payment terminal to complete their transaction using their Mastercard credit card and, once their eligibility is confirmed by their card issue they are offered a monthly instalment plan.
To reduce complexity for retailers, MultiPay Instalments Payment Services Powered by Mastercard has been developed to connect with a merchant’s existing bank account. This also allows retailers to continue to use their current payment infrastructure for existing payment methods which, combined with it requiring no additional floor space, reducing the costs associated with deploying a new payment solution.
“Consumers now expect the same features and services they have become familiar with on-line to be part of the in-store experience too,” says David Maisey, CEO of MultiPay Global Solutions. “We want to allow Irish retailers to offer in-store instalment payments as simply and easily as possible. This has led to the launch of our MultiPay Instalment product, a new payment solution enabled by Mastercard that gives Irish consumers added control with how they pay, improving the customer experience, but without increasing costs or complexity for merchants.”