Splitit Payments (ASX:SPT) to launch Splitit InStore

Company News

by Lauren Evans

Global payment provider Splitit Payments (ASX:SPT) announces the global launch of Splitit In-Store, which is expected to occur in August. This new facility integrates Apple Pay and Google Pay, and multiple new merchants have signed on to the launch, including La-Z-Boy Furniture Galleries, Gem Shopping Network, PROCAM, Faberge, KEF and Aftershock PC.

Splitit enables shoppers to use their credit cards to repay in instalments, with no interest, application, or fees.

Splitit InStore will provide the ability to initiate these instalment payments in person or via phone. Splitit suggests that this financing option will be useful for such items as home furnishings, jewellery, luxury retail and sporting goods, which shoppers may prefer to purchase offline.

The platform has been developed to meet growing merchant demand, and the new merchants are estimated to add over US$1 billion in combined addressable sales volume.

Splitit’s CEO, Brad Paterson, comments: “The recent shift to online has increased shopper expectations of flexible payment options at checkout. As we see a return to in-store spending in many countries, the number one request of our customers has been to provide an omnichannel experience.”

Shares in Splitit Payments (ASX:SPT) closed at $0.58 yesterday.

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