Tymit, a pioneer in the installment credit industry, is delighted to announce a strategic partnership with Visa, a global leader in payment solutions. This exciting collaboration aims to expedite the adoption of installment credit amongst large financial institutions and merchants in the UK and Europe by enabling them to offer co-branded and white-labelled installment credit programs powered by Tymit.
As one of the pioneering installment credit card services, Tymit has already revolutionized the industry, powering installment programs for renowned merchants like Frasers Group with Frasers Plus. Building upon this success, Tymit is now focused on providing its capabilities to enable co-branded and white-labelled installment credit programs for large financial institutions and merchants.
"Our partnership with Visa signifies a significant milestone for Tymit as we empower financial institutions and merchants to swiftly and cost-effectively bring installment credit solutions to market," said Martin Magnone, CEO and Co-founder of Tymit. "With our proven track record and expertise in installment credit, we are poised to meet the needs of the industry by offering innovative co-branded installment credit cards and white-labelled installment credit programs."
Tymit's installment credit solutions offer an attractive alternative to traditional credit card and BNPL programs, specifically tailored to address the evolving payment pain points faced by merchants and consumers. Recent studies have shown that merchants worry about losing control over their customer base, paying excessive fees, lacking adequate affordability checks, and having no protection against fraud, highlighting the market need for forward-thinking financial institutions and merchants.
By collaborating with Tymit, financial institutions and merchants gain access to cutting-edge technology and expertise, allowing them to create co-branded credit card programs with installment options. This strategic move positions Tymit as a viable option for merchants seeking traditional credit card programs while offering the added advantage of buy now, pay later capabilities (BNPL).