Splitit (formerly PayItSimple), a startup that lets consumers pay for a large ticket over time, has partnered with Shopify to offer merchants access to its payments-plan technology via plugin.
The plugin, now available on Shopify’s app store, allows merchants using Shopify to integrate Splitit into their checkout process. The Splitit tool—enabling Visa and MasterCard cardholders to split purchases into interest-free, monthly payments by leveraging the customer’s existing credit—offers access to Shopify’s 275,000 merchants in 150 countries.
This announcement comes after the New York-based company’s integration with ecommerce platforms WooCommerce and Magento. According to the company, merchants using Splitit on these platforms have seen an average increase of 20% on overall sales within the first two months of implementation.
Founded in 2013, Splitit launched as PayItSimple at FinovateFall 2014. Earlier this month, the company made inroads into the medical billing industry by teaming up with DOCPAY to set up interest-free medical payment plans for patients.