Visa and BMO announced a new collaboration to provide eligible BMO credit cardholders access to Installments, enabled by Visa. The convenient payment option is expected to launch in 2024 and enables consumers to convert qualifying purchases into smaller, equal payments made over a defined period of time. BMO will be the latest Canadian issuer to launch installments with Visa since its product launch in 2021.
The launch will expand on BMO’s post-purchase credit card-based installment plan solution, BMO PaySmart™. With BMO PaySmart™, clients can shop in-person or online, and later convert eligible purchases into installment plan payments through BMO Online Banking. Clients can then make their installment payments as part of their monthly credit card payments. As clients continue to face economic uncertainty, they can turn to BMO PaySmart™ to maintain control with smaller, predictable payments.
This new offering will make it simple for clients to select an installment option that fits their budget at time of purchase with participating merchants. Like any BMO PaySmart™ installment plan, clients can then view and manage these plans through BMO Online Banking.
Installments enabled by Visa provides issuers, processors, and merchants with an installment payment option for their customers. For more information on Visa Installments, visit: Visa.ca/installments.
For more information on BMO PaySmart™, visit: BMO.com/paysmart.
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This entry was posted on October 30, 2023 at 9:56 am and is filed under Commentary with tags BMO, Visa. You can follow any responses to this entry through the RSS 2.0 feed.
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Visa and BMO Expand Flexible Payment Options in Canada
Visa and BMO announced a new collaboration to provide eligible BMO credit cardholders access to Installments, enabled by Visa. The convenient payment option is expected to launch in 2024 and enables consumers to convert qualifying purchases into smaller, equal payments made over a defined period of time. BMO will be the latest Canadian issuer to launch installments with Visa since its product launch in 2021.
The launch will expand on BMO’s post-purchase credit card-based installment plan solution, BMO PaySmart™. With BMO PaySmart™, clients can shop in-person or online, and later convert eligible purchases into installment plan payments through BMO Online Banking. Clients can then make their installment payments as part of their monthly credit card payments. As clients continue to face economic uncertainty, they can turn to BMO PaySmart™ to maintain control with smaller, predictable payments.
This new offering will make it simple for clients to select an installment option that fits their budget at time of purchase with participating merchants. Like any BMO PaySmart™ installment plan, clients can then view and manage these plans through BMO Online Banking.
Installments enabled by Visa provides issuers, processors, and merchants with an installment payment option for their customers. For more information on Visa Installments, visit: Visa.ca/installments.
For more information on BMO PaySmart™, visit: BMO.com/paysmart.
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This entry was posted on October 30, 2023 at 9:56 am and is filed under Commentary with tags BMO, Visa. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.