London-based fintech firm Tymit has recently partnered with credit/payments giant Visa to expand its range of buy-now-pay-later (BNPL) offerings. Through this collaboration, Tymit aims to enable large financial institutions and merchants across the UK and Europe to adopt their pay-by-instalment credit solutions. This means that shoppers will now have access to co-branded or white-labelled instalment credit programs, providing them with more options in the BNPL space.
What sets Tymit apart from traditional credit card and BNPL programs is its focus on addressing the various pain points experienced by both merchants and consumers. Mainstream BNPL operators often present challenges such as loss of control over their customer base, inadequate affordability checks, lack of protection against fraud, and high fees for retailers. Tymit seeks to alleviate these issues by offering financial institutions and merchants the opportunity to partner with them and leverage their technological expertise in creating co-branded credit card programs with instalment options.
This partnership with Visa represents a significant milestone for Tymit as Visa is a renowned leader in global credit payments. Martin Magnone, CEO and co-founder of Tymit, expressed his excitement about the collaboration, emphasizing that it empowers financial institutions and merchants to quickly and cost-effectively introduce instalment credit solutions to the market. Tymit’s established reputation and expertise in the instalment credit space position them well to meet the industry’s demands.
By joining forces with Visa, Tymit aims to accelerate the adoption of pay-by-instalment credit and offer a comprehensive range of BNPL solutions to consumers. This strategic partnership opens up new possibilities for both Tymit and Visa as they work together to transform the way people make their purchases. Consumers can expect a more flexible and convenient shopping experience, while merchants can benefit from increased customer loyalty and higher conversion rates.
Overall, Tymit’s collaboration with Visa underscores the growing significance of BNPL in the financial industry. As consumer preferences continue to shift towards more flexible payment options, companies like Tymit are at the forefront of providing innovative solutions that meet the evolving needs of merchants and consumers.
Useful Links:
1. Visa UK
2. Tymit Official Website
