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Charlotte NC: Ally-Mastercard Alliance to Boost Point-of-Sale Financing

 

090120

Posted September 01, 2020



Ally Financial’s personal lending arm has teamed up with Vyze, a financing platform owned by Mastercard, to enhance its ability to support installments-based payments.

The deal marks Ally’s first move into the point-of-sale retail financing market and will allow retail merchants access to “a financially stable lender for higher-ticket sale options”.

“In today’s economic environment, flexible, affordable financing options that protect consumers’ and businesses’ long-term financial health have never been more important,” said Hans Zandhuis, head of Ally Lending.

“Mastercard’s deep experience in global payment and technology positions Vyze as a leader in the point-of-sale lending market.

“Together, our partnership gives merchants, who want to offer consumers trusted and stable installment loan options, a powerful, digital option.”

Ally Lending’s service through Vyze will offer a digital process for customers to purchase items costing up to $40,000 with payment options at a monthly fixed rate for between six and 60 months.

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