MultiPay and Mastercard launch in-store BNPL service

MultiPay is launching a BNPL service across stores in Ireland 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.

The customer’s eligibility is then confirmed by their card issuer and they are offered their monthly instalment plan with a competitive APR.

To reduce complexity for retailers, the service has been developed to connect with a merchant’s existing bank account. This allows retailers to continue to use their current payment infrastructure for existing payment methods.

“Consumers now expect the same features and services they have become familiar with on-line to be part of the in-store experience too,” MultiPay Global Solutions chief executive David Maisey said.

READ MORE: Klarna launches virtual shopping functionality

“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.”

Mastercard Ireland country manager Sonya Geelon added: “As consumer demand grow in this space, we’re delighted that MultiPay’s system has been able to bring Mastercard Instalments Payment Services to brick and mortar retail shops offering more choice at checkout.”

“Our combined expertise and agility meant that we could quickly develop and integrate an innovative payment solution.”

“The creation of our MultiPay product strengthens our relationship with Mastercard – sharing a vision of bridging the gap between on-line and in-store customer experience and having Mastercard’s support has been a huge benefit.”

MultiPay’s instalments solution will be available throughout the month of May at selected retailers across the Republic of Ireland.

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