Visa Expands Payment Options for Amazon Customers with Installment Plans
Hey Payments Fanatic!
Visa has launched a new collaboration with Amazon to provide Canadian consumers with more flexible payment options.
Eligible Royal Bank of Canada (RBC) and Scotiabank credit cardholders shopping on Amazon.ca or the Amazon app can now choose Installments enabled by Visa, allowing them to divide their purchases into smaller, fixed payments over a set period.
This development aims to meet the growing demand for flexible payment methods. According to Visa's research, 58% of Canadians are interested in using installments, and by 2026, this method is expected to account for nearly a quarter of global e-commerce transactions.
This installment feature not only benefits consumers by offering greater financial control and choice but also provides issuers, processors, and merchants with a more flexible payment solution.
Visa and Amazon plan to expand this payment option to more consumers worldwide.
Have a great weekend!
Cheers,
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GOLDEN NUGGET
How does Payment Tokenization work?
The diagram below shows the tokenization process in Apple Pay:
Source: Hua Li i from ByteByteGo (👈 follow these accounts for more great payment insights like this piece👌)
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