Visa Expands Payment Options for Amazon Customers with Installments Plans
June 27 2024 - 8:00AM
Business Wire
The flexible payment option is now available to
eligible Royal Bank of Canada (RBC) and Scotiabank credit
cardholders shopping in Canada in the Amazon store
Visa has announced a new collaboration with Amazon that will
provide Canadian consumers with more choice at checkout. When
shopping online on Amazon.ca or on the Amazon app, eligible RBC and
Scotiabank credit cardholders will now have the option to select
Installments enabled by Visa as their method of payment for
qualifying purchases. This convenient payment option is now
available and enables eligible consumers to convert their purchases
into smaller, fixed payments made over a defined period.
"We are excited to offer our installments solution on Amazon
through two of Canada’s leading issuers, granting more consumers
access to diversified payment methods and greater financial control
with one of the world's largest online merchants," said Dan
Sanford, Head of Product for North America at Visa. "Recognizing
the growing demand for flexible payment options, we are committed
to enhancing the end-to-end payment experience for Canadians to
address their evolving needs.”
Installments are gaining momentum in Canada as a preferred
payment method among consumers. According to Visa research, more
than half of Canadians (58%)1 are interested in using installments
and it is projected that by 2026, this payment method is expected
to account for nearly one-quarter of all global e-commerce
transactions2.
“At Amazon we are always looking to innovate and improve the
shopping and paying experience for our customers,” said Tyler
Aldrich, Director, Amazon Payment Products. “Together with Visa,
we’re pleased to offer customers greater choice, enabling customers
to pay for their online purchases in ways that are convenient for
them.”
Installments enabled by Visa provides issuers, processors, and
merchants with a better payment option to meet customers where they
are. Together, Visa and Amazon are working to bring this payment
option to more consumers around the world.
For more information on Visa Installments, visit
Visa.ca/installments.
About Visa
Visa (NYSE: V) is a world leader in digital payments,
facilitating transactions between consumers, merchants, financial
institutions and government entities across more than 200 countries
and territories. Our mission is to connect the world through the
most innovative, convenient, reliable and secure payment network,
enabling individuals, businesses and economies to thrive. We
believe that economies that include everyone everywhere, uplift
everyone everywhere and see access as foundational to the future of
money movement. Learn more at Visa.com.
1 Visa Canada BNPL Trends Research – Q1 2023
2 Global Payments, “Why buy now, pay later is a trend to watch”,
March 2023
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version on businesswire.com: https://www.businesswire.com/news/home/20240627516529/en/
Media Tracy Truong, Visa Canada trtruong@visa.com
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