Layaway is cool again, and now Visa wants a piece of the $1.2 trillion market
Yet the POS-financing market remains fragmented, says Sam Shrauger, SVP and global head of issuer and consumer solutions at Visa. In the U.S., most merchants don’t offer installment plans, and no single financial or technology firm dominates the space. Visa wants to change that.
Visa declined to disclose whether or how it will make more money when consumers choose to pay in installments. One possibility would be to tack on additional fees for merchants. In 2018, Visa collected about $25 billion in revenue from processing transactions. Another option would be to offer the installment feature for free to merchants, under the rationale that it will boost consumers’ interest in using their Visa card, thereby driving more transaction volume for Visa.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Salesforce Explores Blockchain To Stop Biased Robots From Ruining $1 Trillion OpportunityA Salesforce executive reveals a previously unknown project to use blockchain as a way to prevent sexist and racist algorithms.
Read more »
15 Best Activewear Pieces to Buy at the Nordstrom Spring Sale'Alexa, add more workouts to my schedule.'
Read more »
Here’s How Patrick Church Turned a Simple Ballet Flat Into a Piece of ArtHere's how Patrick Church turned a simple flat into a piece of art.
Read more »
Zoë Kravitz Wears the Ultimate Cool Girl Bridal Label in ParisZoë Kravitz stepped out in biker shorts by Danielle Frankel with her fiancé Karl Glusman.
Read more »