USA – Mastercard and LoanPro Launch "Loan on Card" Program

"Mastercard and LoanPro to Launch Installment Loan Cards" – PYMNTS.com, December 16, 2025

What Is Happening?

Mastercard – the global payment processing company – has partnered with LoanPro to launch a new program called "Loan on Card" that is set to launch in 2026 .

How Does It Work?

Let me explain this in very simple terms:

The old way: You apply for a loan. If approved, the money goes to your bank account. Then you use your debit card or cash to spend it.

The new way: You apply for a loan. If approved, the money is loaded directly onto a Mastercard card. You can use it immediately anywhere Mastercard is accepted – in stores, online, anywhere .

What Are the Benefits?

For borrowers, the program will provide :

• Instant access to money
• Ability to use funds anywhere Mastercard is accepted
• The structure of a fixed installment loan (meaning you know exactly how much to pay each month)
• The convenience of a card in your virtual wallet on your phone

Who Is Behind This?

Two major companies are working together :

• Mastercard – providing the global payments network and the Mastercard Installments program
• LoanPro – working with issuing banks and lenders to enable the launch of the program

What Is Mastercard Installments?

Mastercard launched Mastercard Installments in September 2021. This "buy now, pay later" (BNPL) program allows point-of-sale installment lending anywhere Mastercard is accepted .

According to Seema Chibber, executive vice president of core products for the Americas at Mastercard :

"We've literally seen an explosion in the preference for installments. And when you put it all together – people seeking expanded buying power, control and financial management, and the flexibility and convenience of a digital experience – we had to be ahead of this trend."

Why Is This Important?

This program represents a major shift in how loans are delivered. Instead of getting money in your bank account, you get a card. Instead of having to transfer funds or wait for approval, you have instant access.

LoanPro CEO and co-founder Rhett Roberts explained :

"The launch of the Loan on Card program will offer a new way for lenders to deliver loan funds directly into the hands of consumers and small businesses via the Mastercard card in their virtual wallet on their phone, and ready to go."

When Will This Be Available?

The program is set to launch in 2026 . Specific countries and lenders have not been announced yet, but given Mastercard's global reach, this could expand to many markets over time.