Visa’s installment payment service launched in Romania is part of a larger pilot program that will be expanded globally as of 2020.
During the pilot phase, Romanians with Visa cards from ING Bank may choose installment payments in Altex stores and online on eMAG. Merchant program participation is facilitated by PayU, Alpha Bank and UniCredit Bank.
Eligible Visa cardholders will have the option to divide their total purchase amount into smaller, equal payments over a defined time period on qualifying purchases, at the store and online.
The credit card segment grew constantly in recent years in Romania and payment behavior has improved. Credit card payments in Romania grew 80% in the past three years, to RON12 billion. In the first half of 2019, credit card payments grew 20% on the year, according to central bank data.
Romania registers a daily average of 200,000 credit card transactions with cards issued by local banks.