- Credit card-linked installment payments solutions company Splitit launched its embedded Shopify app.
- The new app, Splitit Card Installments, gives merchants a one-click installment payment experience without redirects or applications.
- Splitit made its Finovate debut in 2014 (as PayItSimple USA). The company rebranded as Splitit in 2015.
Card-linked installment payment solutions company Splitit has unveiled its embedded Shopify app: Splitit Card Installments. The new offering gives merchants an all-in-one service that includes credit card processing along with a seamless one-click installment payment experience for consumers that doesn’t require redirects or applications.
“Our Embedded Shopify App marks a transformative leap in the installment payment landscape,” Splitit CTO Ran Landau said. “By seamlessly integrating into the Shopify checkout, we’ve eliminated the friction typically associated with pay-over-time solutions, a key factor in cart abandonment. This white-label approach empowers merchants to offer branded, one-click installment options while maintaining full control over their customer journey and data. For shoppers, it provides unparalleled convenience, allowing them to easily manage their finances without leaving the merchant’s ecosystem.”
The new app is embedded into the Shopify checkout flow, and gives consumers the option to pay in full or by installments directly within the credit card section. A white-label solution, Splitit Card Installments gives merchants control over both their brand identity and customer relationships. There is no distracting third-party branding and all first-party consumer data remains with the merchant. The app is available to shoppers in more than 100 countries who will benefit from access to localized payment options. Merchants benefit from accessing a more diverse, global customer base, as well as new markets and revenue streams.
“This innovation not only enhances the customer experience but also presents a significant opportunity for merchants to acquire and retain customers in an increasingly competitive e-commerce landscape,” Landau added.
Splitit made its Finovate debut (as PayItSimple USA) at FinovateFall 2014. The company rebranded as Splitit the following year in an effort to “better align the Company’s brand with its overall strategy and product offering.” Since then, the company has grown into a major Installments-as-a-Service provider serving many of Internet Retailer’s top 500 merchants. Additionally, Splitit’s solutions are accepted by more than 1,500 ecommerce merchants in 30+ countries and by shoppers in 100+ countries.
Splitit’s new app launch news comes just days after the company announced a partnership with modern card issuance company and fellow Finovate alum Highnote. Courtesy of the partnership, Splitit will leverage Highnote’s tokenized virtual cards to pay merchants and provide real-time functionality that enables Splitit to offer consumers a new option for paying over time. This allows consumers to use their digital wallets to access Splitit’s card-linked, embedded, installment payment options. The process features a low-friction, pay-later approval flow that eliminates the need for a credit check by referencing the consumer’s existing available credit.
Splitit CEO Nandan Sheth praised Highnote’s platform for its “flexibility, scalability, and security.” He added, “This partnership allows us to offer shoppers a seamless and efficient way to make payments over time, directly within their digital wallets or at merchant checkout, further simplifying the shopper journey.”
Headquartered in Atlanta, Georgia, Splitit also maintains an R&D center in Israel and offices in London. The company was founded in 2012.