<New option, separately licensed>
Now acquirers using Way4 can offer the benefits of the Visa instalments program to both brick-and-mortar and e-commerce merchants. This program enables issuers to provide instalments to Visa cardholders during checkout for open-loop transactions, and it may result in more sales for merchants.
To support this service on the acquiring side, we have developed the following API-based functionality in Way4:
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While processing purchase transactions, Way4 checks the instalment plans available for this consumer’s card through sending a specific API request to the issuer via Visa network.
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Way4 informs Visa on consumer’s selection or rejection of a plan to Visa through another API request and processes the authorization via the ISO8583 interface.
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If the consumer decides to return the purchase later on, Way4 sends a specific API request to Visa to cancel the instalment plan and refund the paid amount.
At the moment, the Visa Instalment program is only available for credit cards. In the next VISANET releases, Visa plans to support instalments for debit cards.
