Mastercard and LoanPro, a fintech lending platform, launched Loan on Card to provide consumers and small businesses with fixed-term installment loans delivered via virtual and physical cards. The service utilized Mastercard Installments Credential to deposit funds into mobile wallets for instant use at any merchant accepting Mastercard. Scheduled for a 2026 rollout, the initiative sought to help issuers compete with BNPL providers like Klarna, which reported that interest-bearing loans drove over 244% of its U.S. GMV growth in Q3 2025.
