Fintech Splitit, Telispire to Support Installment Plans for High-Ticket Mobile Devices

Splitit (ASX: SPT) announced Telispire, a wholly owned subsidiary of the National Rural Telecommunications Cooperative (NRTC), has “selected to integrate Splitit’s Installments-as-a-Service into its PHOENIX back office and billing system allowing Telispire’s mobile virtual network operator (MVNO) customers to offer installment payments to its subscribers easily.”

As one of the country’s largest technology providers and aggregators for MVNOs, Telispire offers “a turn-key mobile telecom service for local and regional operators, utilities, co-ops and cable companies.”

The growth of 5G and the success of larger operators and cable operators venturing into the MVNO market is “driving even greater competition for subscribers.”

Telispire has “integrated Splitit‘s Installments-as-a-Service platform into its technology stack and billing system.”

The integration with Splitit “means any Telispire MVNO can offer installments to their subscribers for devices and services by turning on the feature through PHOENIX.” There is “no need to integrate new technology or manage complex third-party lender relationships.”

Telispire COO Craig Andrew said:

“Our number one goal is our resellers’ success. Splitit’s white-label installments gives us a valuable tool to offer our resellers that puts them on a more equal footing with larger competitors without having to manage the technical integration. The growth of 5G has many looking to upgrade devices, giving MVNOs a simple option to offer subscribers a great way to pay over time without the complexity of traditional financing options.”

Splitit CEO Nandan Sheth remarked:

“We are excited to partner with a leading mobile telecommunications and device market platform. The large ticket size perfectly matches Splitit’s flexible installment platform. Consumers can easily spread the cost of their devices or services over time without additional interest or hidden fees. Telispire is truly empowering innovative mobile retailers with a turn-key platform that will have embedded installment services via Splitit. Their clients will have zero implementation burden, and Splitit benefits from distribution to many fast-growing retailers through a single connection to PHOENIX.”

Telispire’s flexible turnkey solution “enables operators to enhance their brand by selecting relevant products and services, including provisioning, billing, eCommerce, fulfillment, and customer support.”

Splitit’s white-label installments solution “provides a simple single-point API integration, ensuring Telispire can offer its customers the flexibility to nurture and retain their subscribers, driving loyalty and promoting brand consistency on their terms.”

The installment experience is “embedded into the existing purchase flow, with the flexibility to determine specific products or product categories to offer Splitit installments and the number of the installments provided.”

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

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