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Splitit Payments Limited (SPTTY) is a white-label platform that enables customers to pay by installments using their existing credit at checkout. Recently expanded 'Pay After Delivery' service to the US after success across Europe. Partnered with AliExpress and Checkout.com to offer innovative payment solutions.

Splitit is revolutionizing the Buy Now, Pay Later (BNPL) industry through its Instalments-as-a-Service platform, providing a seamless and customer-friendly experience. With an emphasis on improving customer experience and merchant loyalty, Splitit is at the forefront of modern payment solutions.

Headquartered in Atlanta with global operations, Splitit is listed on ASX and OTCQX, making it a leading player in the fintech industry.

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Splitit Payments Limited (SPT) voluntarily delists from ASX after securing a US$50 million growth commitment from Motive Partners. The first US$25 million tranche has closed, with the second tranche dependent on 2023 financial performance milestones. Motive's investment aims to accelerate Splitit's growth and support its strategic plan, strengthening the balance sheet and bringing additional global payments expertise. The company's unique, innovative offering has attracted a world-class private equity sponsor, positioning it for long-term value creation.
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Splitit Payments Limited (ASX:SPT, OTCQX:SPTTY) announced its ranking as No. 253 on the Deloitte Technology Fast 500™ in North America. With over 500% growth, the company has made the list for the third consecutive year, showcasing the consumer demand for Splitit and the power of card-attached installments.
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Splitit enables 'Pay After Delivery' option to AliExpress Shoppers in the US, expanding their service from Europe. The demand has been positive, improving customer experience and building merchant loyalty.
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Splitit has unveiled a new checkout service called SplititExpress, designed to streamline the installment payment process for consumers. This innovative solution allows users to pay via their existing credit cards in under 2 seconds, facilitating a fast checkout experience optimized for mobile devices. SplititExpress supports major payment platforms, including GPay and ApplePay. The service boasts an impressive approval rate of over 85% and features a customizable, merchant-branded interface, letting businesses enhance customer engagement through tailored payment options. Splitit's approach utilizes existing credit rather than originating new loans, enabling interest-free installments. This offering could disrupt traditional buy now, pay later services by reducing checkout clutter and enhancing brand loyalty.

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Splitit has been recognized in the Financial Times list of Americas' Fastest Growing Companies 2023, ranking 54th out of 500 companies based on revenue growth from 2018 to 2021. This acknowledgment highlights the effectiveness of Splitit's unique Installments-as-a-Service platform, which allows merchants to offer consumer credit solutions without additional applications or fees. The company’s technology addresses key issues faced in the Buy Now, Pay Later sector, enhancing customer experience and driving sales. CEO Nandan Sheth expressed pride in the team’s achievements as they continue to expand their market presence.

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Splitit has launched its Checkout Plugin for SAP Commerce Cloud, enabling merchants to offer one-click installments with reduced integration costs. This integration targets large enterprises that require a streamlined solution for advanced B2B, B2C, and B2B2C use cases. The plugin allows merchants to customize their checkout experience and embed Splitit's Installments-as-a-Service smoothly into their existing workflows. This initiative is part of Splitit's strategy to enhance its offerings and strengthen its position in the Buy Now, Pay Later (BNPL) market, aiming to elevate customer experience and increase conversion rates.

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Splitit Payments Limited (ASX:SPT, OTCQX:SPTTY) has partnered with Alipay to introduce a 'Pay After Delivery' option for shopping on AliExpress. This service, leveraging Splitit's Instalments-as-a-Service platform and Checkout.com's payment capabilities, allows consumers in Germany, Spain, and France to pay for goods after delivery using their existing credit cards. The partnership aims to enhance the shopping experience and is expected to significantly impact Splitit's brand and business development. Further expansions into other international markets are anticipated, although the economic materiality of the agreement remains unknown due to variable revenue factors.

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On December 20, 2022, Splitit (ASX:SPT, OTCQX:SPTTY) announced a partnership with Worldline (Euronext: WLN) to simplify card-based installment payments for merchants. The collaboration aims to integrate Splitit’s Installments-as-a-Service platform into Worldline’s North American payment processing. This integration allows merchants to offer one-click installments seamlessly within their existing checkout processes. The initiative is designed to enhance customer experience and drive sales by leveraging existing credit on consumer payment cards without additional fees or credit checks.

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Splitit's recent data reveals notable shifts in holiday shopping habits, with Electronics leading as the top category, comprising 24% of merchant sales volume (MSV) between November 21 and November 28, 2022. Average spending increased to $1,179, up 17% from last year. Shoppers opted for an average of 8.45 installments, a 24% increase in payment flexibility. Other key categories included Fine Jewelry (18%), Fitness and Outdoors (16%), Home Furnishings (15%), and Health and Beauty (9%), indicating diverse consumer interests despite inflationary concerns.

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FAQ

What is Splitit Payments Limited (SPTTY) known for?

Splitit is a white-label platform that allows customers to pay by installments using their existing credit at checkout.

What recent service has Splitit expanded to the US?

Splitit has recently expanded its 'Pay After Delivery' service to customers in the US, following successful implementation in Europe.

Who are Splitit's key partners in providing payment solutions?

Splitit has partnered with AliExpress and Checkout.com to offer innovative payment solutions and enhance customer experience.

Where is Splitit headquartered and listed?

Splitit is headquartered in Atlanta and is listed on ASX (Australia) and OTCQX (US), showcasing its global presence in the fintech industry.

What sets Splitit apart in the Buy Now, Pay Later (BNPL) space?

Splitit's Instalments-as-a-Service platform focuses on simplifying the payment process, improving customer experience, and fostering merchant loyalty.

Why is Splitit considered a pioneer in modern payment solutions?

Splitit's emphasis on customer experience, innovative partnerships, and global presence positions it as a leader in reshaping how payments are made.

How is Splitit contributing to the evolution of the BNPL industry?

Splitit's platform mitigates common issues in legacy BNPL systems, providing a seamless and uncluttered experience for merchants and customers alike.

What geographic regions have experienced success with Splitit's services?

Splitit has seen success with its services across Europe, including Germany, Spain, France, Italy, Netherlands, the UK, and Australia, with recent expansion to the US.

What is the focus of Splitit's innovation in payment technology?

Splitit focuses on enhancing customer experience, improving merchant loyalty, and driving innovation in the payment technology sector.

How does Splitit aim to support merchants and customers in the payment ecosystem?

Splitit aims to provide an easy-to-adopt, integrated, and simplified installment option for merchants while delivering a seamless and customer-centric payment experience.

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