Building on the growing Buy Now Pay later sector, Visa has revealed a new collaboration with Air Canada, the flag carrier and Canada’s largest airline, to facilitate the offering of Visa Installment Solution to eligible credit cardholders.
The link, which continues the growth of alternative payment journeys, looks to focus on providing Canadian consumers with enhanced flexibility and a greater number of choices.
“We’re excited that an iconic brand like Air Canada has an interest in the Visa Installments Solution,” commented Brian Weiner, VP and Head of Product and Digital, Visa Canada. “This speaks to the power of having a flexible, ubiquitous product offering that can integrate directly into the cardholder’s checkout experience.”
It comes amid a backdrop of the growth of the popularity and momentum of BNPL services – as they continue to expand into large ticket purchases like travel. According to Visa’s recent Buy Now Pay Later Global Pulse Survey, one-third of Canadians interested in using instalments plans would do so for travel and entertainment.
Visa Installments Solution is offered by participating financial institutions to eligible cardholders to convert qualifying purchases at participating merchants into smaller, equal payments made over a defined period.
The solution would provide eligible Air Canada customers making a qualifying purchase the flexibility to pay in instalments during the checkout process.
“At Air Canada, we are focused on elevating the customer experience, and this includes providing our customers with a variety of seamless payment options when shopping with us”, added Keith Wallis, Senior Director of Distribution and Payments, Air Canada.
“Visa is one of the most trusted brands in Canada and their close collaboration with major Canadian financial institutions provides a unique opportunity to deliver an exceptional shopping experience to our mutual customers.”
