<New options, separately licensed>
Now e-commerce acquirers using Way4 can support instalment purchases for online buyers. This new feature works for closed-loop schemes where the issuer and the acquirer are the same company or served by the same payment processor. This feature helps increase the shopping cart conversion rate for merchants, and the acquirer benefits with more processing revenue.
An e-commerce buyer will see the available instalment plans on the merchant checkout page. Way4 will send the selected plan details to the issuing host, including tenor, instalment amount and interest information. After the issuer’s confirmation, the instalment transaction will be completed.