Ingenico and Splitit to bring white-label BNPL to physical checkout
By Gloria Methri
Ingenico has entered a strategic partnership with Splitit to bring one-touch, no-interest, BNPL capability to the physical checkout experience. The partnership aims to deliver a global BNPL service embedded into the merchant’s existing POS terminal.
Ingenico’s PPaaS solution enables such as banks and merchant acquirers, to select from a catalog of payments and value-added services without requiring expensive software development.
Splitit’s Installments-as-a-Service platform is a new way to drive BNPL through a white-label, merchant-branded experience embedded within a brand’s existing checkout flow. Unlike other BNPL services that originate new loans, Splitit unlocks existing consumer credit on cards for 0% interest installments.
Any consumer with available credit on their card becomes pre-qualified to use Splitit for the value of that credit. There is no application, registration required, or additional interest, hidden fees, or credit checks, making the BNPL checkout experience seamless for consumers online and in-store.
Nandan Sheth, Chief Executive Officer of Splitit, speaking of the partnership, said, “Together with Ingenico, we can deliver a one-of-a-kind solution to tap into the massively underserviced in-store BNPL opportunity, which is three times greater than e-commerce alone. This partnership will transform BNPL at the point of sale, opening incredible new opportunities outside traditional retail. All industries – healthcare, home furnishings, home improvement and repairs, automotive and business services, to name a few – will benefit.”
Michael Balzer, Head of Sales and Strategic Partnerships at PPaaS for Ingenico, added, “Splitit and PPaaS are natural partners. PPaaS is all about facilitating how people pay and what services they can access at the point of sale. Splitit is reinventing installment payments at the point of sale in a way that makes it easy for merchants to propose this option to their customers, and PPaaS can help them do this in a simple and effective way. Coming on the back of other partnerships we have recently announced, including Splitit in our portfolio of partners is a testament to how important we believe in-store, easy-to-use BNPL will be in the future.”
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