Mastercard and Spotii to enable consumers to ‘Buy Now Pay Later’ in Saudi Arabia

Mastercard and Spotii to enable consumers to ‘Buy Now Pay Later’ in Saudi Arabia

As the 'Buy Now Pay Later' market continues to grow to $1.5 trillion worldwide1, Spotii has selected Mastercard as its exclusive payments BNPL (Book Now Pay Later) partner in the region. The partnership will offer millions of consumers flexible installment payment options with zero additional cost or hidden fees.  The goal is to support the region's e-commerce ecosystem through providing a consumer-friendly product that helps merchants grow a loyal customer base. It also gives consumers a budgeting tool that allows them to manage expenses over a period while merchants enjoy accelerated sales.  Through this partnership, Spotii's services will extend to Mastercard's extensive merchant network. Spotii and Mastercard will also collaborate to introduce several new and innovative digital payment products. With an intuitive and easy-to-use platform, consumers can sign up to become part of Spotii's platform and pay in installments at over 600 beauty and fashion outlets across the GCC.  "We are continuously working with our partners to meet the evolving consumer needs, and our partnership with Spotii is just another example of such commitment. This partnership will propel the Buy Now Pay Later market in the region, further enabling businesses with their digitization plans while providing consumers with flexible and agile payment solutions.