The leading global monthly installment payment solution, Splitit Payments Ltd announced updates, and new partnerships, merchant agreements and a strengthened go-to-market infrastructure.

Splitit's Buy Now Pay Later (BNPL) solution, is now available to the e-commerce platform Shopify.  Splitit's technology-based solution is now listed directly inside Shopify and can be used by more than 800,000 merchants across 20 countries  as an integrated payment gateway.

Splitit has also partnered with global point-of-sale finance platform, Divido. It is expected that Splitit's BNPL solution will join Divido's multinational lending platform that connects lenders with retailers. 

New merchant agreements

  • Leading sleep technology specialists Chili Technology and Eight Sleep;
  • Relaunched luxury online fashion retailer BlueFly;
  • Luxury watch retailer Ashford, an Internet Retailer US Top 500 e-retailer;
  • Ready-to-wear fashion retailer Nili Lotan; and
  • Luxury footwear business Ace Marks.

Brad Paterson, Splitit's newly appointed CEO, said: "These new agreements are in line with our strategy of building both our base of active merchants in key verticals and scaling through strategic partnerships. North America has become our largest region and represents our most significant growth opportunity. The momentum we have seen in just the first eight months has been tremendous and the team is executing well."

"The feedback we consistently receive from merchants is that consumers are looking for better ways to manage their cash flows. With over 200 million credit card holders, and up to 70% of credit card balances in the US unutilised, we can provide the perfect solution. By making customer purchases on credit cards more affordable, merchants are also converting more sales and growing their average transaction values, delivering significant benefit to everyone involved."

Source: Yahoo Finance


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