Visa has announced that it will roll out the Visa Installment Credential (VIC), a dedicated credential for Buy Now Pay Later (BNPL) products, in Japan.
VIC is a new product developed by Visa for card issuers to enable more flexible installment/deferred payment at Visa affiliated stores around the world, and card issuers can use VIC to more easily provide payment options such as interest-free installment payments to their customers. This is the first time that this BNPL dedicated credential will be rolled out in Japan.
In conjunction with the full-scale rollout of VIC, Visa will also launch “VIC in a Box,” a support program for fintech businesses considering providing BNPL payment services using the credential. “VIC in a Box” is a framework that aims to support fintech businesses in launching payment services using VIC by introducing them to partner companies participating in “VIC in a Box,” enabling them to launch products more quickly through collaboration between the fintech businesses and the partner companies.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
