Splitit unveils Splitit Plus; a new payment gateway for installment payments

By Pavithra R

Splitit Payments, a global payment solutions provider that enables shoppers to pay instalments via their credit cards, has announced the launch of Splitit Plus, a new service enabling merchants of all sizes to offer payment installments to their customers within minutes.

Merchants throughout the world can now activate Splitit through the Splitit Plus gateway or any integrated gateway partner that Splitit supports. The new Splitit Plus is built as an integrated payment gateway for installment payments. It is an all-in-one platform combining Splitit’s installment payment platform with a card processing solution for the installments.

Splitit Plus also saves merchants money by offering a competitive rate and combining payment processing and installment fees. It gives merchants a choice to receive the full cost of the purchase upfront or over time as shoppers pay their monthly installments.

“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,” said Splitit CEO Brad Paterson.

“We believe that Splitit Plus puts us in a strong position to continue our exciting growth trajectory. Offering a faster and simpler onboarding experience and all-in-one fee structure allows us to accelerate merchant acquisition for smaller and larger merchants alike while meeting the growing demand from merchants to add Splitit to their site or store,” added Mr Paterson.

Benefits of Splitit Plus include:

• Fast, convenient setup.
• All-in-one account.
• Quick, seamless integration: integrates with most e-commerce platforms like Shopify, WooCommerce or Magento, or by directly incorporating it into the checkout workflow on other platforms.
• Simplify cash flow management: Eliminates the complexity of reconciling multiple accounts by deducting all charges upfront.
• Concierge chargeback service: Fully managed service helps with the time and inconvenience of managing the chargeback process.

Founded in 2012, Splitit’s patented technology enables e-commerce merchants to offer interest-free monthly instalment payments to their customers at the point of sale. Its vision is to be a leading provider of interest-free, card-based instalment payment solutions for merchants and shoppers worldwide. Splitit Plus will be initially available in the U.S., with plans for a broader rollout in multiple countries in 2021.