Splitit powers the next generation of Buy Now, Pay Later (BNPL) through its merchant-branded Instalments-as-a-Service platform. Splitit is solving the challenges businesses face with legacy BNPL while unlocking BNPL at the point of sale for card networks, issuers and acquirers all through a single network API. Splitit’s Instalments-as-a-Service platform mitigates issues with legacy BNPL like the declining conversion funnel, clutter at the checkout and a lack of control of the merchant’s customer experience while putting the power back in the hands of merchants to nurture and retain customers, drive conversion and increase average order value.
The only white-label service allowing customers to pay by installments using their existing credit on their payment card at checkout, announces that Splitit and Alipay have formed a partnership to power the ‘Pay After Delivery’ option for shoppers on AliExpress, a global eCommerce marketplace owned by the Alibaba Group. The service will initially launch in Germany, France and Spain, with plans to expand into other international markets.
Splitit’s flexible technology platform, coupled with Checkout.com’s payment-acquiring capabilities, enables AliExpress shoppers to pay after delivery with their existing credit card. Pay on delivery is Splitit’s new installment service that allows consumers to pay for goods after delivery. The agreement leverages Splitit’s Instalments-as-a-Service platform to create a custom-branded experience embedded in the AliExpress checkout flow. Alipay is AliExpress’ global payment solution partner.