JOINING ME NOW IS LINDA
KIRKPATRICK PRESIDENT OF NORTH
AMERICA
FOR MASTERCARD. LINDA SO GOOD
TO HAVE YOU ON TELL US A
BIT MORE ABOUT MASTERCARD'S BUY
NOW PAY LATER PROGRAM.
>> GREAT TO BE MASTERCARD'S NEW
BUY NOW PAY LATER PROGRAM IS
AN EFFORT
TO INSTALLMENTS MORE BROADLY IN
THE MARKET AND THE WAY WE'RE
GOING TO DO THAT WE'RE GOING TO
BRING THE POWER OF OUR BROAD.
>> SEPT ITS REACH 78 MILLION
MURCIA AND LOCALLY TO ACCEPT
MASTERCARD PRODUCT. AND CONNECT
THEM TO
LENDERS WHO YOU HAVE DIRECT
RELATIONSHIPS WITH CONSUMERS TO
PROVIDE
THEM WITH.
>> EASIER MORE FLEXIBLE WAY TO
CREATE INSTALLMENTS YOU KNOW IN
A WAY THAT MEETS THEIR NEEDS
AND IN A SAFE AND SECURE YOUR
SO THIS FOR
US IS PRETTY
TRANSFORMATIONAL WALL
INSTALLMENTS THAT EXISTS IN THE
MARKET AND THE CONCEPT OF
BREAKING UP PAYMENTS HAS BEEN
PLAY FOR LONG TIME SHE BRINGS
THE UBIQUITY OF OUR EXCEPT
IN SNOW WORK AND COMBINES IT
WITH THE SAFETY AND SECURITY
OF OUR PRODUCTS AND SOLUTIONS A
TALKER INSTALLMENTS TELL US
WHAT CAN CUSTOMERS USE THIS FOR
ANY PURCHASE.
>> WHETHER IT'S ONLINE OR IN
STORE AND THEN THERE'S JUST NO
INTEREST ON ANY PAYMENT.
>> CONSUMERS CAN USE THIS.
>> OR PURCHASES VOTE
IN STORE AND ONLINE AND THE
LENDER WILL DETERMINE THE
REPAYMENT PLAN.
>> THAT THE
THAT THE.
>> THE CUSTOMER WILL LOT WILL
ENGAGE AND THEY CAN CHOOSE PAID
FOR WITH
0 MODEL YOU KNOW WHAT THAT
MEETS THEIR NEEDS THAT
STRIPPING OR THEY CAN CHOOSE A
DIFFERENT MODEL THROUGH THEIR
LENDER THAT BETTER USE THEIR
REPAYMENT NEEDS SO WE BROUGHT
US ARE YES WE'RE GOING TO
CONTINUE.
>> SO
THIS BUY NOW PAY INDUSTRY HAS
REALLY SURGED IN POPULARITY
DURING
THE PANDEMIC AS WE'RE JUST
SEEING CUSTOMER SHIFTING TO
ONLINE SHOPPING. DO YOU EXPECT
THAT THIS TREND WILL CONTINUE
IN THE FUTURE.
>> WE ARE SEEING MORE THAN
50%. AMERICANS HAVE LEVERAGE TO
BUY NOW PAY LATER. WARM-UP
CHECK OUT IN THE.
>> PAST
18 MONTHS AND A GREAT
PERCENTAGE OF
CONSUMERS DO WANT MORE
MERCHANTS TO OFFER THIS SO
WE'RE SEEING THAT IT HAS
BROAD APPEAL AND WE'RE SEEING
CONSUMERS ARE INTERESTED IN
DOING THIS MORE OFTEN AND SO
THAT'S EXACTLY WHAT
MASTERCARD'S GOING BRING TO THE
TABLE IS THIS ABILITY FOR THEM
TO SHOP WITH INSTALLMENTS
WHEREVER MASTERCARD IS EXCEPTED
AND WHAT'S UNIQUE ABOUT THIS
PROGRAM IS NOT A COURT
IS BRINGING. TOKEN A STATION
TECHNOLOGY TO THE TRANSACTION
TO MAKE IT SAFE AND SECURE.
WE ARE ALSO BRINGING
0 LIABILITY PROTECTION SO THE
CONSUMER DISPUTE A TRANSACTION.
THAT THEY DIDN'T OR THAT THEY
DIDN'T FEEL IT WAS APPROPRIATE
AND THAT DOESN'T EXIST IN
TODAY'S MODEL. SO WE'RE
BRINGING THAT AND WE'RE ALSO
BRINGING
THE POWER. INCREASED DATA AND
INFORMATION THROUGH AN OPEN
BANKING ASSET THAT WE HAVE HOPE
IN A CITY. SO THE LENDER WILL
HAVE
GREATER INSIGHT IT INTO THE
CONSUMER CONSUMER. CONSUMER
PROVISIONS WHERE OPT INTO
PROVIDING THEIR OWN ATION THAT
THE LENDER WILL USE TO HIM THE
LENDING DECISION.
SO A LOT OF UNIQUE ATTRIBUTES
TO THIS PROGRAM GRADUATE ELSE
IS ON
THE MARK TODAY IN THE EYE AND
THAT WAS MY NEXT QUESTION
ACTUALLY BECAUSE WE'VE SEEN
FINTECH COMPANIES LIKE SQUARE
REALLY LEADING IN THIS SPACE.
SO FAR.
>> SO IS THAT WHAT MASTERCARD
IS THE MORE TRADITIONAL CARD
PLAYER. THAT HOW YOU GUYS ARE
PLANNING TO DIFFERENTIATE
YOURSELVES.
>> IF THE PROGRAM IS INCREDIBLY
DIFFERENTIATED AND AGAIN WHEN
YOU THINK ABOUT THE DEATH WRAP
OF WHAT WE BRING TO
THE TABLE. YOU KNOW FIND THE
PAIN AND ECOSYSTEM PARTNERS THE
LENDERS
THE MERCHANTS AND THE ADVANCED
INNOVATIVE TECHNOLOGY THAT
MASTERCARD BRINGS TO THE TABLE
THROUGH SO IT IS A SHUNT IN
THROUGH
OPEN BANKING. THIS IS A VERY
UNIQUE MODEL AND IT'S IT'S
TRANSFORMATIONAL IN TERMS OF
THIS SCALE. IT CAN CAN
REALLY DRIVE.
>> THERE IS THERE IS SOME
CONCERN THAT THIS PAY LATE
LATER
TREND, POTENTIALLY WOULD CAUSE
AN INCREASE IN CONSUMER DEBT
AND CAUSE CREDIT CARD AND SAYS
TO SPIKE ANY CONCERN ABOUT WHAT
THIS MIGHT MEAN FOR CUSTOMERS
AND YOU WERE IT MIGHT ENCOURAGE
CUSTOMERS, ESPECIALLY YOUNG
ONES. SO PERHAPS OVEREXTEND
THEMSELVES.
>> WELL THE MODEL THAT WE'RE
HAS WITH ITS RESPONSIBLE
LENDING PRACTICES. AND THIS IS
NOT A CARTE YOU DO NOT
NEED A CREDIT DEBIT OR PREPAID
CARD TO EFFECTUATE A MASTERCARD
INSTALLMENTS TRANSACTION.
SO THIS IS A MODEL THE CONSUMER
CAN DECIDE TO CHALK UP
THEIR PAYMENTS OVER TIME WITH
THE LENDER BASED ON
THE LENDERS BASED ON THE LENDER
AND HOW THE LENDER CAN CAN
PROVIDE ALONG TO THEM BUT
CREDIT IT'S NOT A TRADITIONAL
CREDIT PRODUCTS. SO
WE STOPPED TRANSPARENCY AND THE
PROCESS AND RESPONSIBLE LENDING
PRACTICES SIT BEHIND
THIS PRODUCT. AND YOU KNOW THE
WAY CONSUMERS HAVE LEVERAGED
IT. WE BELIEVE THAT IT'S GOING
TO BE AN OPPORTUNITY TO PROVIDE
THEM WITH ADDITIONAL CHOICE
MASTERCARD STRATEGY, IT'S
REALLY GROUNDED INCH IN
PROVIDING CONSUMERS CHOICE AND
HOW THEY WANT TO PAY AND THIS
IS AN EXTENSION OF OUR STRATEGY
AND VERY COMPLIMENTARY THE WAY