Another company Square, which recently announced a $29-billion acquisition of the Australian firm Afterpay, to get into the BNPL space, also dropped close to 6%. Mastercard Installments will be first available to the markets across the United States, Australia, and the United Kingdom (UK). This service will enable consumers to digitally access BNPL offers, either pre-approved through their lender's mobile banking app or via an instant approval during checkout. BNPL is a kind of financing option, which allows customers to make payments for their purchases in instalments according to the terms of the offer.