Splitit (ASX:SPT), has announced a buy now, pay later (BNPL) service that is available at retail locations around the world. “Splitit InStore” also features Apple Pay as well as Google Pay to facilitate credit.
Splitit also announced several new brands that have signed on to use Splitit InStore. These brands include La-Z-Boy Furniture, Gem Shopping Network, PROCAM, Fabergé, and more.
Splitit InStore provides an installment option for the retail sales they can initiate for shoppers when making larger value purchases. Splitit InStore is also available for phone orders. The service is accessible on any connected device. It can be offered right at the moment of purchase with no application or sign-up required by the shopper. Installment plans can last between six to 24 months.
Splitit CEO Brad Paterson says that retailers are now seeing a return to instore traffic following the COVID health crisis. Providing an in-store solution was the number one request from their customers:
“Splitit InStore answers this call and is just one way we continue to innovate to match this permanent change in shopper habits and preferences. Besides broadening our addressable market by accessing retailers with a brick-and-mortar store presence, this also opens Splitit to exciting new categories.”
Splitit is a global payment solution provider that enables shoppers to use the credit they’ve earned by breaking up purchases into monthly interest-free instalments using their existing credit card. Splitit reports that it serves many of Internet Retailer’s top 500 merchants and is accepted by more than 2,000 e-commerce merchants in over 30 countries and shoppers in over 100 countries. Headquartered in New York, Splitit has an R&D center in Israel and offices in London and Australia.