TORONTO, April 4, 2022 /CNW/ - As consumer interest in 'Buy Now, Pay Later' (BNPL) continues to grow, Visa announced today its intention to collaborate with Air Canada, the flag carrier and Canada's largest airline, to facilitate the offering of Visa Installment Solution to eligible credit cardholders, giving Canadian travelers more choice and flexibility over how they pay for their airline purchases. With this collaboration, Air Canada would be among the first airlines globally to participate in Visa Installments Solution.

The popularity and momentum of BNPL services is expanding, especially for large ticket purchases like travel. According to Visa's recent Buy Now Pay Later Global Pulse Survey, one third of Canadians interested in using installments plans would do so for travel and entertainment¹.

Visa Installments Solution is offered by participating financial institutions to eligible cardholders to convert qualifying purchases at participating merchants into smaller, equal payments made over a defined period of time. Visa Installments Solution would provide eligible Air Canada customers making a qualifying purchase the flexibility to pay in installments during the checkout process.

"We're excited that an iconic brand like Air Canada has an interest in the Visa Installments Solution," says Brian Weiner, VP and head of product and digital, Visa Canada. "This speaks to the power of having a flexible, ubiquitous product offering that can integrate directly into the cardholder's checkout experience."

"At Air Canada we are focused on elevating the customer experience, and this includes providing our customers with a variety of seamless payment options when shopping with us", says Keith Wallis, senior director Distribution and Payments, Air Canada. "Visa is one of the most trusted brands in Canada and their close collaboration with major Canadian financial institutions provides a unique opportunity to deliver an exceptional shopping experience to our mutual customers."

To learn more about Visa Installments Solution, please visit visa.ca/installments.

About Visa

Visa (NYSE:V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.ca.

About Air Canada

Air Canada is Canada's largest domestic and international airline, the country's flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Air Canada is the only international network carrier in North America to receive a Four-Star ranking from the independent U.K. research firm Skytrax, which in 2021 also named Air Canada as having the Best Airline Staff in North America, Best Airline Staff in Canada, Best Business Class Lounge in North America, as well as an Excellence award for its handling of COVID-19. Also in 2021, Air Canada was named Global Traveler's Best Airline in North America for the third straight year. In January 2021, Air Canada received APEX's Diamond Status Certification for the Air Canada CleanCare+ biosafety program for managing COVID-19, the only airline in Canada to attain the highest APEX ranking. Air Canada has also committed to a net zero emissions goal from all global operations by 2050. For more information, please visit: aircanada.com/media, follow Air Canada on Twitter and LinkedIn, and join Air Canada on Facebook.

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1	Visa BNPL Global Pulse Survey, September 2021

SOURCE Visa Canada

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Visa Installments Solution eyes expansion with Air Canada