Buy Now-Pay Later remains hot for both merchants and consumers alike. Online shopping growth combined with pent-up demand as the pandemic wanes are key drivers. Splitit just announced an integrated service to enable one-stop shopping for merchants seeking BNPL offers as well as card processing.
The solution is Splitit Plus which lets merchants provide installment payments with the added-value service of a payment gateway for processing. The BNPL market has a crowded field of vendors to choose from, so any differentiating features and solutions can position some to stand out in the crowd.
The following excerpt from a Finextra article reports more on the topic:
Splitit, a global payment technology company, today announced the availability of Splitit Plus, a new service enabling merchants of all sizes to offer payment installments to their customers in minutes.
Any merchant can now activate Splitit through the Splitit Plus gateway or any integrated gateway partner that Splitit supports worldwide.
Merchants can now begin accepting installment payments faster than ever before. They can sign up directly through the Splitit Plus gateway or via one of the 90-plus integrated gateway partners currently supported by Splitit worldwide. Approval is quick, meaning merchants can offer interest and fee-free payment installments to customers in minutes.
“We created Splitit Plus with a customer-first approach to provide an exceptional merchant experience with Splitit. This innovation of a payment gateway built exclusively for installments makes it a fast, simple solution for merchants of any size to begin accepting installment payments in minutes,” noted Splitit CEO Brad Paterson.
Overview by Raymond Pucci, Director, Merchant Services at Mercator Advisory Group