Splitit (ASX:SPT) initiates new payment service for US merchants

Company News

by Michael Luu

Payment solutions innovator Splitit (ASX:SPT) has announced the launch of a new instalments payment service named Plus for the US merchant market.

The project is a product of the company’s collaboration with Irish-American financial services and software developer Stripe.

Splitit promoted the new initiative, “This innovation of a payments gateway built exclusively for instalments makes it a fast, simple solution for merchants of any size to begin accepting instalment payments in minutes”.

The new service integrates Splitit’s traditional BNPL (buy now pay later) platform with a card processing mechanism to enhance user experience by improving convenience and accessibility, and removing interest and fees from credit card transactions.

Shares in Splitit (ASX:SPT) last traded at 80 cents