Splitit Launches Splitit Plus, a New Payment Gateway Built Exclusively for Installment Payments

• Splitit Plus is the company’s new payment gateway enabling accelerated growth and seamless onboarding for merchants.
• Now merchants can sign up and accept Splitit Installments on their e-commerce site or in-store within minutes.

NEW YORK--(BUSINESS WIRE)--Splitit, a global payment technology company (ASX:SPT), today announced the availability of Splitit Plus, a new service enabling merchants of all sizes to offer payment installments to their customers in minutes. Any merchant can now activate Splitit through the Splitit Plus gateway or any integrated gateway partner that Splitit supports worldwide.

Splitit built Splitit Plus as an integrated payment gateway for installment payments. Splitit Plus provides merchants 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.

Merchants can now begin accepting installment payments faster than ever before. They can sign up directly through the Splitit Plus gateway or via one of the 90-plus integrated gateway partners currently supported by Splitit worldwide. Approval is quick, meaning merchants can offer interest and fee-free payment installments to customers in minutes.

“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,” noted 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.

Additional benefits of the new Splitit Plus include:

• Fast, convenient setup: Begin accepting installment payments in minutes.
• All-in-one account: Combines the Splitit installment platform with card processing for installments, all managed through one account.
• Quick, seamless integration: integrates easily 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: Our fully managed service helps with the time and inconvenience of managing the chargeback process.

Splitit Plus integrates seamlessly into websites and e-commerce platforms like Shopify, WooCommerce or Magento. Just like the Splitit business model, Splitit Plus gives merchants a choice to receive the full cost of the purchase upfront or over time as shoppers pay their monthly installments. Splitit Plus is initially available in the U.S., with plans for a broader rollout in multiple countries in 2021.

Currently used by more than 2,000 merchants in over 30 countries and shoppers in over 100 countries, Splitit invented a new way to pay, allowing consumers to use their existing credit cards to spread payments over time to manage their finances better. No applications, no fees and no hassle.

To sign up or learn more about Splitit Plus, visit www.splitit.com/splitit-plus.

About Splitit
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 installments using their existing credit card. Splitit enables merchants to improve conversion rates and increase average order value by giving customers an easy and fast way to pay for purchases over time without requiring additional approvals. Splitit 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. The company is listed on the Australian Securities Exchange (ASX) under ticker code SPT.