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Latitude Financial and Mastercard have entered into a strategic partnership to deliver cutting edge digital payments
solutions for New Zealand and Australia. The partnership will see significant development in Latitude’s payments and
lending platform, driving new products and innovation in the New Zealand Travel and BNPL segments. The next-generation
BNPL, enabling Genoapay customers to buy now pay later anywhere Mastercard is accepted globally, will launch first in
New Zealand, followed by Australia, in 2020. The new travel card will also launch in New Zealand next year.
New Payments innovation – BNPL available anywhere Mastercard is accepted
New Zealanders will now be able to make purchases using Genoapay anywhere Mastercard is accepted globally.
Other features include simplified payments, giving customers the ability to group multiple purchases into one simple
payment plan.
Genoapay is Latitude’s BNPL payments platform in New Zealand, enabling customers to pay for purchases over 10
interest-free payments.
Signing-up takes just 90 seconds, including instant approval for spending amounts of between $150 and $1,000.
Every consumer undergoes a credit and ID check as part of Latitude’s ongoing commitment to acting responsibly.
For a video of how this works, click on this link
Launching a travel and shopping proposition in New Zealand
Latitude and Mastercard will collaborate on a new travel and shopping credit card, which will feature innovations
available exclusively to New Zealand customers at launch. New Zealanders who love to travel and shop will soon be able
to apply for their own unique card.
Latitude and Mastercard previously joined forces in 2009 to develop the 28 Degrees Global Mastercard, Australia’s
leading travel and shopping credit card.
Latitude Managing Director and CEO Ahmed Fahour said, “We are excited to expand our partnership with Mastercard, one of
the most respected global brands, to innovate in buy now pay later and develop other products that will benefit Latitude
customers. This is the next evolution of the BNPL industry and will enable consumers to pay for their purchases using
Genoapay at any of the nearly 53 million merchants that accept Mastercard worldwide.”
Ajay Banga, President and CEO of Mastercard, said, “Everyone wants a seamless shopping experience. This partnership lets
us provide that and more - we’re building the foundation for people to choose to pay in the way they want, when and
where they want, knowing each time it’s going to be simple, safe and secure.”
Latitude Financial is a leading digital payments, instalments and lending business with 2.6 million customer accounts
and over 1,950 merchant partners that operate more than 9,000 online and physical outlets across Australia and New
Zealand.