Visa has launched the Visa Installment Credential (VIC) in Japan, a dedicated credential aimed at facilitating Buy Now Pay Later (BNPL) services. This initiative caters to the rising demand for flexible payment options, particularly among younger consumers purchasing high-priced items. VIC allows card issuers to offer interest-free installment payments effortlessly at Visa-affiliated stores globally. Alongside the credential, Visa has introduced "VIC in a Box," a support program designed to assist fintech companies in launching BNPL services using VIC. The program includes partnerships with Episode Six, Orient Corporation, and LifeCard, providing fintech businesses with necessary resources and connections to VisaNet for smoother service deployment. The rollout of these innovations highlights Visa's commitment to addressing the growing popularity of BNPL by providing both the technological framework and collaborative support needed for successful implementation in the fintech industry.
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