Installment payment company Splitit Payments (ASX:SPT) has just announced a partnership with EFT Payments Asia, a payment solutions provider established in Hong Kong.
They will offer Splitit’s installment solution to their merchants operating in Hong Kong and Macau.
EFTPay is one of the key partners of Alipay in Hong Kong, providing digital wallet services to companies such as the Marriott, Sunglass Hut and Estee Lauder.
They can now pay for purchases with an existing debit or credit card by splitting the cost into interest and fee-free monthly payments, without additional registrations or applications.
Splitit considers that the EFTPay partnership will have a material impact on Splitit if EFTPay achieve its annual targets.
Shares in Splitit Payments (ASX:SPT) are trading 15.1 per cent higher at 84 cents.