Splitit, a white-label buy now, pay later firm, has partnered with global payments firm Worldline to simplify the adoption of next-gen, card-based instalments.
Following the partnership, Worldline will initially integrate Splitit into its North American processing platform, enabling Splitit APIs via its front end to offer its merchants a way to adopt card-based instalments.
Worldline and Splitit also share plans to expand next-gen, card-based instalments into additional geographies. According to Wordline, the growing merchant demand for next-generation instalment options provides a significant opportunity.
Anthony Chalhoub, managing director, North America at Worldline, said: “Splitit delivers a unique white-label instalment service that provides consumers with a way to utilise existing credit better to split the cost of purchases while providing merchants more control over the entire experience. We want to enable our customers with value-added payment services that are quick and easy to implement: Splitit provides that.”
“Our partnership provides an exceptional opportunity to deliver considerable value to Worldline’s current and future customers,” adds Splitit CEO Nandan Sheth. “Worldline processes billions of transactions globally for some of the most respected brands in the world. Their merchants will soon be able to benefit from a best-in-class instalment service that drives frictionless conversion through a white-label experience.”
Splitit unlocks existing consumer credit on payment cards for zero per cent interest, pay-over-time instalments. Any consumer with available credit on their credit card is automatically pre-qualified to use the service for the value of that available credit. There’s no application, registration or redirects and no additional interest, hidden fees or credit checks.
Headquartered in Atlanta, the company has a research and development (R&D) centre in Israel as well as offices in London and Australia. It was also recently named one of the fastest-growing companies in North America on the 2022 Deloitte Technology Fast 500 – now in its 28th year.