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The Real Story Behind Card-Linked Installment Plans: A Deep Dive

The Real Story Behind Card-Linked Installment Plans: A Deep Dive

Recent PYMNTS Intelligence data reveals that while 54% of financial institutions claim to support card-linked installment options, the actual availability is significantly lower, with only 6% truly offering these plans before or during checkout. The report, in collaboration with Splitit, highlights a disparity between perceived capabilities and real-world implementation, driven by third-party integration constraints and varied definitions of installment offerings. Despite the challenges, there is substantial consumer interest in pay later options, with six in 10 consumers favoring them at checkout. This interest presents acquirers with growth opportunities in the market. Currently, only a small fraction of acquirers have integrated general-purpose card-linked installment plans, though 45% plan to do so in the future, indicating a shift towards meeting consumer demand for flexible payment options. The discrepancy between claimed and actual capabilities suggests a need for more consistent offerings and better integration to capture market share, particularly in sectors with frequent transactions like retail and restaurants.

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