Why did MasterCard start to work with Vyze
Mastercard recently announced it has acquired Vyze, an advanced technology platform that gives to the customers more choice – and purchasing power – to people who want their point-of-sale payment options to match the flexibility and convenience of today’s shopping experiences.
Vyze offer various advantages
· 12+ lenders
· 80%+ approval rate
· Multiple solutions for all your customers
Vyze destroys traditional models and connects merchants with multiple lenders, allowing them to offer their customers a wide range of credit options online and in-store. This is an additional payment flexibility for customers at the exact moment of purchase, it is absolutely immediate option which is gret advantage for the shopper himself. It complements Mastercard’s existing card and ACH-based solutions.
“Both consumers and businesses want the best choice and service, exactly when they need it,” said Blake Rosenthal, executive vice president of global acceptance at Mastercard. “Vyze adds to our ability to empower banks and other lending partners to participate in the growing trend of retail financing. The combination of their platform with our technology and network complements our existing payments programs.”
Raymond Pucci, director of merchant services practice at Mercator Advisory Group comments: “This acquisition creates a new market making approach that supports operation at scale, helping banks offer and merchants shop for the terms that best fit their needs. Mastercard’s existing relationships will assure both take a serious look at this new solution.”
In our opinion, getting a solid partnership with Vyze, Mastercard could bolster confidence, drive more customer adoption, and increase profits more than an acquiring bank could achieve individually.
What do you think about Mastercard and Vyze partnership? Have you ever considered to apply for a loan while placing an order in any e-commerce website? If you have your question, please write it below, I would be glad to answer your questions or to introduce your project to my team at Astorts Group to be evaluated