Visa: Installment service for e-commerce

Main article: E-commerce

2022: Launch installment service online

On February 3, 2022, Visa in Russia launched a service for fast and convenient installments online.

The Visa service is designed to simplify the installment process, saving buyers time and resources of sellers and banks through a single integration based on API technologies. Directly at the time of online purchase and without additional contact with the bank, the buyer can issue installments without applications and complete additional documents.

This service opens more options for payment, allowing you to divide the purchase cost into smaller equal payments over a certain period of time. After entering the card details on the payment page, the buyer is offered the option of the installment program, upon clicking on which he will receive an installment offer and will be able to choose its term. When you select a customer, the purchase price is divided into equal parts, and the installment terms are displayed on the payment confirmation page.

Visa provides extensive coverage and employs a wide range of technology providers to facilitate the distribution of this service to sellers throughout the region and guarantee the ease of implementation of solutions. Acquirers in the Visa network can activate online installments for any of their retail chains that accept Visa.

In order to ensure the possibility of installment payments in the markets, Visa provides technology and offers partnerships to members of its network. Developing our products and payment solutions, we primarily focus on the desire of banks and retailers to provide the most understandable and convenient service for the end user. That is why we help partners meet demand using installment solutions both for offline purchases in stores and in e-commerce, "said Yuri Topunov, vice president and head of the Visa products department in Russia.