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Visa Inc (NYSE:V) shares are trading lower today. Visa has partnered with Amazon.Com, Inc. (NASDAQ:AMZN) to offer Canadian consumers more flexible payment options at checkout.
Eligible Royal Bank Of Canada (NYSE:RY) and The Bank of Nova Scotia (NYSE:BNS) credit cardholders can now select Installments enabled by Visa for qualifying purchases on Amazon.ca or the Amazon app.
This new option allows consumers to convert purchases into smaller, fixed payments over a set 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.
Installments are becoming a popular payment method among Canadians. Visa’s research indicates that 58% of Canadians are interested in using installments, and by 2026, this method is expected to account for nearly a quarter of all global e-commerce transactions.
Related Read: Judge Tosses The Card: Visa-Mastercard Swipe Fee Settlement Reportedly Rejected
This collaboration with Amazon aims to meet this growing consumer demand.
Tyler Aldrich, Director of Amazon Payment Products, said, “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 provide issuers, processors, and merchants with a better payment option to meet customers where they are.
Visa and Amazon plan to extend this payment option to more consumers globally, enhancing the convenience and flexibility of online shopping.
Visa stock has gained more than 18% in the last 12 months. Investors can gain exposure to Visa and Mastercard stock via iShares U.S. Financial Services ETF (NYSE:IYG) and SPDR Select Sector Fund – Financial (NYSE:XLF).
Price Action: V shares are trading lower by 1.64% at $269.12 at last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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