Peach Finance, the leading modern lending and servicing technology platform, has announced that it has joined Mastercard’s Interactive Partner Network as a fintech enabler to help provide consumers with Consume more payment options. The partnership is currently focused on helping lenders develop buy now, pay later (BNPL) solutions leveraging the Mastercard installment program.

BNPL is growing rapidly, with an expected e-commerce transaction value of $7.2 billion by 2025. But one of the barriers to growth in the field is the challenge of Seller Acceptance – BNPL providers must establish a merchant acceptance relationship one by one. Mastercard has helped solve this problem by developing a BNPL solution that is available wherever Mastercard is accepted.

The new Mastercard disbursement program brings scalability, flexibility and simplicity to the BNPL space by helping banks, lenders, wallets and fintechs get to market faster, all with the safety of and peace of mind that comes with MasterCard. As an Eligible Interoperability Partner, Peach will provide Mastercard network issuers with the service technology they need to quickly launch highly flexible programs using Mastercard installment.

Another barrier to the growth of BNPL is the challenge of introducing new lending structures like BNPL on top of legacy service technology. That’s where modern care solutions like Peach can help. Peach’s platform is property-type agnostic, allowing lenders to offer virtually any type of loan program, including new construction.

“Servicing technology is arguably the most critical component of the lending tech stack,”

“When novel lending constructs arise, a lender’s servicing tech can either be a competitive advantage or a hindrance. That’s why we designed Peach’s platform around an Adaptive Core, which gives lenders the flexibility to launch virtually any loan type in any asset class and continually refine their lending programs at scale.”

“We’re proud to be part of the Mastercard Engage network, where we can offer our modern platform and deep BNPL expertise to many of today’s top lending innovators. We believe that unlocking lending innovation is fundamentally good for borrowers and for the financial industry, and our partnership with Mastercard has the potential to significantly accelerate this innovation.”

                                                                                Russell Braden, Peach’s VP of Product.

Peach’s platform is designed to help lenders launch and scale modern lending products. Peach offers a loan management system, an integrated service toolkit, and Compliance Guard™, a proprietary compliance monitoring system. Unlike other lending technology platforms, Peach provides lenders with full configurability both at launch and at scale, so they can adapt to changing technology, markets, and the environment. market, regulations, and customer preferences.

The Mastercard Engage Partner Network is a global program that identifies and evaluates technology enablers that can help Mastercard customers deploy products and services faster and easier.