Splitit Payments (ASX:SPT) today announced it is partnering with Visa to help accelerate their distribution of installment payments for merchants.
Visa and Splitit will also explore further opportunities relating to new product development.
Splitit will also integrate with Visa Installment Solutions, a new capability that helps participating issuers and merchants give Visa cardholders more control on how a purchase is paid.
At this point in time, Splitit is not able to determine the economic materiality of partnering with Visa due to the contingent nature of results that may be generated.
Shares in Splitit Payments (ASX:SPT) are down 4.1 per cent to 35 cents.