MAY 14, 2015
American Merchants Are Missing the Boat on Installment Payments
While unused credit largely hasn’t been addressed in the U.S., in six countries—Brazil, Turkey, Argentina, Greece, Mexico and Israel—optimizing unused credit is enabling interest-free credit-card based installment plans. Interest-free installment payments account for 35-57% of all credit card purchases in those countries, with Brazil reporting that over 80% of all online transactions are via credit card based installment plans. For American merchants, this unused credit means trillions in purchasing power and for consumers this means the ability to purchase items they previously would’ve left the store without. It’s a win-win for all.