Mastercard expands BNPL program to consumers in the UAE

By Leandra Monteiro

Mastercard has expanded Mastercard Installments, its Buy Now, Pay Later (BNPL) program that delivers greater choice at checkout, both in-store and online, to consumers in the United Arab Emirates (UAE) and Saudi Arabia. The BNPL program will meet growing consumer demand for flexible, digital-first payment options, and support the region’s e-commerce ecosystem through a new program focused on providing consumers choice.

Mastercard Installments – set to go live later this year – uses the power of the company’s trusted network to make BNPL available to millions of consumers and merchants worldwide. It enables banks, lenders, FinTech companies, and wallets to offer a variety of flexible installment options to consumers, including a zero percent interest, pay-in-four model. Implementation is handled by Mastercard and the acquirer with no lift to the merchant to offer this new payment choice, and no disruption to the existing customer experience.

Mastercard is working with leading partners representing a significant market share in the region including Abu Dhabi Commercial Bank (ADBC), Network International, and National Bank of Ras Al Khaimah (RAKBANK) in the UAE and Saudi National Bank (SNB) in Saudi Arabia. It is committed to supporting customers across the region to offer the Mastercard Installments program, with plans to scale to additional markets in the future. The solution sits alongside a number of bespoke BNPL go-to-market models that Mastercard is developing with its digital partners across a variety of sectors including mobility, retail, and marketplaces.

Mastercard Installments enables consumers to digitally access BNPL offers, either pre-approved through their lender’s mobile banking app or through instant approval during checkout. Consumers will have full transparency on lender practices up-front during the approval process, and unlike most current BNPL offerings, consumers will continue to benefit from zero liability fraud protection, the ability to challenge unrecognized charges, and the peace of mind that comes with Mastercard’s acceptance footprint.

“Above everything, consumers today demand flexibility and choice. With Mastercard Installments, we want to give people the choice to pay how, when and where they want. This most recent product innovation builds on the trust between businesses and their customers with Buy Now, Pay Later options benefitting everyone in the ecosystem. As Mastercard continues to design solutions for an evolving digital economy, we see BNPL becoming a standard for shopping, and we look forward to implementing this offering in the UAE and Saudi Arabia later this year,” said Khalid Elgibali, Division President for Middle East and North Africa, Mastercard.