Aplazo, an omnichannel buy now, pay later (BNPL) platform in Mexico, recently announced that it has partnered with Mastercard to launch Latin America’s virtual card solution. This virtual card brings secure digital payments to the region, providing a seamless payment journey to customers that enables the convenience of BNPL (instalment) payments and the capacity to shop anywhere. Aplazo’s BNPL virtual card provides an easy way to utilize credit, allowing users to pay in instalments only by linking their existing bank account or debit card to their Aplazo APP. Once users create an account and have their credit approved, the virtual card is activated and can be used with all online retailers in Mastercard’s network.
Unlike traditional entities, Aplazo approves virtual cards in record time to allow customers instant access and the ability to purchase goods on-demand, with the convenience of paying for them over time with no hidden fees. Cardholders also have access to Mastercard’s customer support capabilities. As the digital payment landscape evolves, Millennial and Gen Z consumers will play a vital role in the growth of BNPL solutions in Latin America. Aplazo is reducing the barrier to entry to credit access for these groups, which will ultimately drive the economy forward in this important region with the simplest and most transparent credit option.