Network International introduces Mastercard Installments in the UAE

Mastercard and Network International Collaborate to Launch Mastercard Installments in the UAE

Dubai, UAE: Mastercard and Network International, the leading enabler of digital commerce across the Middle East and Africa, have joined forces to introduce Mastercard Installments in the UAE. This innovative program, now available at merchants across the UAE, offers consumers the flexibility to split their purchases into installments both online and in-store. What sets this program apart is that it allows banks, lenders, fintech companies, and e-wallets to offer installments to their customers without the need for additional merchant integration, making it a unique proposition in the market.

Mastercard Installments provides shoppers with the ability to access installment offers digitally, pre-approved through their bank’s mobile banking app. This gives shoppers full transparency on their bank’s policies upfront during the approval process. To ensure a seamless experience for consumers and to create a sustainable business model for issuers and lenders, Mastercard has partnered with Network International to enable Mastercard Installments at Network International’s merchant terminals in the UAE. This collaboration builds on the long-standing strategic partnership between the two companies, focusing on enhancing and strengthening the payment ecosystem in the region.

Gina Petersen-Skyrme, Vice President and Country Business Development Lead, UAE & Oman, Mastercard, expressed, “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.”

Jamal Al Nassai, Group Managing Director for Merchant Services – Middle East and North Africa, Network International, added, “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.”

Mastercard Installments brings multiple benefits to all stakeholders involved. It empowers consumers to choose how and when they pay for items, helps merchants and acquirers scale installments propositions, and turns convenience into a competitive advantage. The program is embedded in the core Mastercard network, eliminating the need for 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.

The UAE is witnessing a growing consumer demand for installments services, with a strong uptake in recent years as a preferred payment method. According to Mastercard’s 2023 Market Trends UAE report, 28% of people in the UAE currently use installments, and an additional 48% plan to use installments in the next six months. Shoppers find installments useful for mid to big-ticket purchases such as electronics, travel, and retail, as it provides increased buying power and serves as an additional budgeting and financial planning tool.

Mastercard and Network International’s collaboration on Mastercard Installments is set to revolutionize the payment landscape in the UAE, offering consumers greater flexibility and convenience in managing their purchases while driving growth for merchants and financial institutions.