Splitit Strengthens E-commerce Support with the Addition of Wix

Rhea-AI Summary

Splitit (ASX:SPT) announced a new integration with Wix, enabling merchants to offer installment payments to customers using existing credit cards. This partnership reinforces Splitit's commitment to empower small and medium businesses (SMBs) globally. With this addition, Wix merchants will provide more payment options across North America, Europe, Asia, and beyond. Splitit distinguishes itself in the buy now, pay later market by not charging additional fees or interest, positioning it strongly with an average order value of over $1,000.

Positive

• New integration with Wix enhances payment flexibility for SMBs.
• Installation is seamless for merchants across various platforms.
• Splitit's average order value exceeds $1,000, attracting higher-value customers.
• Partnership expands global payment options in major regions.

Negative

• None.

NEW YORK, Nov. 16, 2021 /PRNewswire/ -- Splitit (ASX:SPT), the company empowering consumers to use their existing credit to spread payments over time, announced it has a new platform integration with Wix, allowing merchants to offer Splitit's installment payment to shoppers using their credit cards.

Splitit's integration with Wix allows merchants to offer Splitit's installment payment to shoppers.

The addition of Wix adds another leading e-commerce platform to Splitit's portfolio, reaffirming its commitment to empower SMBs. Through the partnership, Wix merchants will be able to offer their customers more payment options in various countries in North America, Europe, Asia and more. 

"Small businesses are the heart of the economy. The ability to offer flexible payment options helps level the playing field for SMBs," notes Splitit CEO John Harper. "Wix does an incredible job democratizing access to cutting edge e-commerce tools for businesses of all sizes. We are extremely proud to add Wix to our growing list of e-commerce platforms we support."

Adding Splitit installment payments at checkout is easy and seamless no matter which e-commerce platform a merchant is using. Merchants just need to create a Splitit business account and connect a payment gateway to be up and running. It includes options to fine-tune the look and feel of the Splitit checkout experience, easily add upstream messaging about the benefits of Splitit to support the entire customer journey and set up their Splitit business account.

Splitit is unique compared to other buy now, pay later (BNPL) options. The company doesn't provide point-of-sale financing. Instead, it empowers shoppers to make smarter purchase decisions by tapping into their unused credit on their existing credit cards. Splitit delivers a truly frictionless shopper experience and doesn't charge additional fees or interest to the consumer. Since there is no application or financing, setting up installments is as simple as two clicks.

Splitit's average order value (AOV) is over $1,000 – four times higher than most other BNPL services – helping merchants attract and convert higher-value customers. In addition, Splitit is the only truly global installment payment company accepted anywhere in the world where Visa, Mastercard and Discover are accepted. As a result, Splitit enables merchants to offer installments globally, something that has not been possible from a single vendor in the past.

The addition of Wix, along with the earlier announcement of Salesforce Commerce Cloud, means Splitit now supports six of the leading e-commerce platforms, which also includes Shopify, Magento, WooCommerce and BigCommerce.

To learn more about Splitit's e-commerce platform support visit: www.splitit.com/partners/

About Splitit
Splitit empowers consumers to use the hard-earned credit on their existing credit cards to spread payments over time with no applications, no additional fees and no hassle. Splitit attracts and converts higher-value customers helping merchants improve conversion rates and increase average order value by giving customers an easy and fast way to pay for purchases over time without requiring additional approvals. Splitit serves many of Internet Retailer's top 500 merchants and is accepted by more than 2,800 e-commerce merchants in over 30 countries and shoppers in over 100 countries. Headquartered in New York, Splitit has an R&D center in Israel and offices in London and Australia. The company is listed on the Australian Securities Exchange (ASX) under ticker code SPT.

About Wix.com, Ltd
Wix is leading the way with a cloud-based website development platform for over 210 million registered users worldwide today. The Wix website builder was founded on the belief that the Internet should be accessible to everyone to develop, create and contribute. Through free and premium subscriptions, Wix empowers millions of businesses, organizations, artists, and individuals to take their businesses, brands and workflow online. The Wix Editor, Wix ADI, Editor X, a curated App Market, Ascend by Wix and Velo by Wix enable users to build and manage a fully integrated and dynamic digital presence. Wix's headquarters are in Tel Aviv with offices in Austin, Be'er Sheva, Berlin, Cedar Rapids, Denver, Dnipro, Dublin, Kyiv, Kraków, Los Angeles, Miami, New York, Phoenix, San Francisco, São Paulo, Tokyo and Vilnius. 

Media Contact:
Brian Blank
brian.blank@splitit.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/splitit-strengthens-e-commerce-support-with-the-addition-of-wix-301424947.html

SOURCE Splitit USA, Inc.

FAQ

What is the significance of Splitit's integration with Wix for SPT shareholders?

The integration enhances Splitit's market reach and strengthens its offerings for small businesses, potentially driving higher transaction volumes.

What markets will benefit from Splitit's partnership with Wix?

The partnership allows merchants in North America, Europe, Asia, and more to offer installment payments, expanding Splitit's service market.

How does Splitit's payment system work compared to other BNPL options?

Splitit enables customers to use their existing credit cards without additional fees or applications, creating a frictionless checkout experience.

What is the average order value for transactions processed through Splitit?

Splitit's average order value is over $1,000, which is significantly higher than many other BNPL services.