RBC And Visa Collaborate To Give BNPL Option To Cardholders

Royal Bank of Canada is the most recent financial institution to use Visa’s BNPL technology to provide credit cardholders the option of making instalment payments for purchases.

The agreement allows qualified RBC personal credit cards to convert a qualifying purchase into smaller, equal payments paid over a specified period of time while shopping in-store or online at partner Canadian businesses.

Installments supported by Visa, which was introduced in Canada last year, allows consumers to utilise their current credit without submitting new loan applications, undergoing credit checks, or downloading a new app.

Leah Napier, VP, retail cards, RBC, says: “Together, we’re excited to offer consumers another payment option that provides greater flexibility, affordability and simplicity when they shop – all seamlessly integrated within their existing RBC credit card product.”