Standard Chartered credit cardholders shopping on Amazon.ae can now convert purchases into monthly installments for a period up to 12 months, without having to call the bank or fill out any forms, according to a Finextra report.

"Installment plans give consumers greater purchasing power by allowing them to better manage their cash flows. We are proud to be among the first international banks in the UAE to launch this powerful feature on Amazon.ae," Sethu Ramaswamy, regional head of products and segments for Africa and Middle East at Standard Chartered Bank, told the news outlet.

Amazon subsidiary Payfort will conduct the installment payment program.

"We have seamlessly integrated this new payment option into the Amazon.ae checkout journey so that customers can avail of the new pay by installments option without needing to leave the Amazon.ae store," Omar Soudodi, managing director of Payfort, told Finextra. "Trust and convenience are key when it comes to payment methods, and we will continue innovating on behalf of our customers in this space."