Visa announced its partnership with GHL Systems to enable Visa Instalments for in-store purchases, a first of its kind initiative in Asia Pacific. Visa’s instalment payment solution turns already approved issuer credit lines into buy-now-pay-later payment options at checkout for Visa cardholders. Visa cardholders can now conveniently pay for their purchases in equal monthly payments at more than 3,000 participating merchant outlets featuring fashion, jewellery and electronic local and global brands.
This is timely given that Buy Now Pay Later (BNPL) solutions are gaining popularity in the country. According to the latest edition of Visa’s Consumer Payment Attitudes Study, at least two thirds (87%) of Malaysian consumers use BNPL for their shopping purchases.
Amitoj Sawhney, Head of Products for Regional Southeast Asia said, “As we move forward towards a digital-focused future, it is important that we continue to create products and solutions that meet the needs of our consumers and merchants. The introduction of Visa Instalments for in-store purchases reinforces our commitment towards providing innovative, convenient and secure payment solutions for our valued cardholders.
Kevin Lee, GHL Malaysia’s CEO said, “Our expanded partnership with Visa underscores our commitment to empower both the merchant and consumer, further promoting financial inclusion. This partnership not only enhances the consumers’ accessibility to financial services but also help our merchants to increase conversion rates by providing flexible payment options.”
Existing GHL merchants who have enabled Visa Instalments for in-store purchases include Mentari Unggul Optic, Spex Optic Group, Boston Time Square Sdn Bhd, Glories Gadget, E Spec Boutique, and other small and medium-sized enterprise (SME) merchants.
