Fintech Splitit Brings Installments as a Service to Rental Market via letus Partnership

Splitit (ASX:SPT) announced that letus has selected Splitit to bring its Installments-as-a-Service to its Cloud payment platform “for the property rental market, allowing tenants to pay expenses in several interest-free installments on their credit card.”

The collaboration “brings a new payment option to letus’s Cloud payment platform for property managers and owners.” Tenants can “spread the costs of expenses such as rent or security deposits over several monthly installments on their preferred credit cards with no additional interest charges.”

letus CEO Jean-Francois Brissot said:

“Splitit helps us reach our objective to bring innovative technology and tools to alleviate some of the biggest hurdles for tenants and property managers alike,” “The ability to integrate Splitit’s white-label solution into our platform ensures a seamless and simple experience helping foster a stronger relationship between tenants and landlords.”

letus’s Cloud payment platform “offers flexible rent, credit reporting and 360-degree payment solutions that empower our customers to take control of their finances.”

Property managers can “efficiently collect rent and allow tenants to choose how they pay rent while reconciling all payments on one fully integrated, and secure platform backed by a world-class ecosystem of partners.”

Splitit CEO Nandan Sheth said:

“letus is a perfect example of the power of Splitit’s Installments-as-a-Service platform. We are the technology enabler, helping an innovative company like letus offer installment payments on their terms. Our flexible platform is easily embedded within the existing payment experience without the added complexities of legacy third-party installment payment options.”

Splitit’s white-label installments solution “provides a simple single-point API integration, ensuring letus delivers a consistent and branded experience embedded directly in the platform.”

Any consumer with the available balance on their credit card “is automatically pre-qualified to use Splitit.” There’s reportedly “no application, registration or redirects and no additional interest, hidden fees and or credit checks.”

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