(Information sent by the signatory company)
PARIS, Feb. 1, 2023 /PRNewswire/ — Ingenico, a global leader in payment acceptance solutions, and Splitit, the only white-label consumer credit installment payment platform, today announced a global strategic alliance to provide a unique and commission-free solution, “Buy Now, Pay Later” (BNPL), at the physical point of sale using Ingenico’s and Splitit’s innovative as-a-service payment solutions.
According to the Juniper Research report “Buy Now Pay Later: Reshaping the Payments Market” (August 2022), “Buy Now, Pay Later” (BNPL) users will exceed 900 million globally by 2027, up from 360 million 2022. At the same time, 75% of commerce is expected to continue to occur at the point of sale, indicating a significant opportunity for merchants to offer customers a flexible in-store payment option.”[1]
Traditional BNPL services have struggled to gain a foothold at the point of sale. The friction of a shopper having to go through a multi-step process to register, apply for financing, or sign in to a third-party app or service often leaves the shopper so frustrated that they abandon the purchase.
The alliance between Ingenico and Splitit removes these barriers by providing a comprehensive, onetouch and interest-free BNPL service integrated into the merchant’s payment terminal. The result is a compelling omnichannel customer experience that helps grow the merchant’s business while driving loyalty and purchase retention.
Ingenico’s PPaaS as-a-service solution enables its customers, such as banks and acquirers, to select from a catalog of payments and value-added services without the need for lengthy and costly software development, avoiding the complexity associated with implementation in different brands of terminals.
Splitit’s payment as-a-service platform is a new way to enable BNPL installment payment through a personalized white-label experience for each merchant by integrating it into their payment flow. Unlike the traditional BNPL service that involves new loans, Splitit unlocks existing consumer credit on the credit card at 0% interest. Any consumer with available credit on their card is automatically qualified to use Splitit2 for the value of that available credit. There is no application, registration or redirection, no additional interest, hidden fees or credit checks, making it the best BNPL payment experience both online and at the point of sale3.
The global alliance has generated great interest among clients of both companies, particularly in the United States and Western Europe.
Nandan Sheth, Splitit’s Chief Executive Officer, said in relation to the alliance: “We are delighted to partner with one of the largest and most admired payment technology companies in the world. Together with Ingenico we can provide a unique solution to take advantage of the great opportunity offered by the BNPL at the point of sale, since it has a volume three times greater than electronic commerce This alliance will transform the BNPL at the point of sale, opening new opportunities beyond traditional commerce All sectors: health , furniture, repairs, automotive and commercial services, to name a few, will benefit…”
Michael Balzer, Head of Sales and Strategic Partnerships for PPaaS at Ingenico, added: “Splitit and PPaaS are natural partners. PPaaS makes it easy for customers to check out by giving them access to numerous services. Splitit reinvents installment payments at the point of sale by making it easy merchant to offer this option to their customers, and PPaaS helps them make it possible in a simple and effective way.As with other recently announced alliances, having Splitit among our partners highlights the importance we place on a BNPL that is easy to use .
As a world leader in point-of-sale payment acceptance solutions, Ingenico is the trusted technology partner for more than 1,000 banks, acquirers, ISVs, payment aggregators and fintechs and has some 40 million operating terminals globally. at the service of retail, ranging from small merchants to some of the most renowned brands worldwide.
ABOUT INGENIC
Ingenico is the world leader in payment acceptance solutions. As a trusted technology partner for merchants, banks, acquirers, ISVs, payment facilitators and fintech clients, our terminals, solutions and services facilitate the global payment acceptance ecosystem. With 45 years of experience, innovation is central to Ingenico’s strategy and culture, inspiring our large and diverse community of experts who anticipate and help create the evolution of global commerce. At Ingenico, trust and sustainability are at the heart of everything we do.
For more information, visit Ingenico.com.
SOBR TO SPLIT
Splitit powers the next generation of Buy Now, Pay Later (BNPL) through its “Instalments-as-a-service” trading platform. Splitit solves the problems businesses face with traditional BNPL by powering point-of-sale BNPL for card networks, issuers and acquirers all through a single network API. The platform solves the problem of low conversion in the funnel, problems at checkout and lack of control over the customer experience, giving the merchant the opportunity to nurture and retain the customer, drive conversion and increase value middle of the purchase ticket. Splitit’s white label BNPL is the easiest payment option for merchants to adopt, integrate and implement while providing the best payment experience, integrated into their checkout flow. Headquartered in Atlanta, Splitit has a research and development center in Israel and offices in London and Australia. Splitit is listed on the Australian Stock Exchange (ASX) under the ticker symbol SPT and is also listed on the US OTCQX under the symbol SPTTY (ADRs) and STTTF (common shares).
For more information, visit splitit.com
Press Contact:
INGENICOKatuiscia Benloukil Telefono: 33 6 58399502 E-mail: katuiscia.benloukil@ingenico.com
[1] https://www.juniperresearch.com/whitepapers/bnpl-reshaping-the-payments-landscape
2 No interest is paid to Splitit. The cardholder may be responsible for paying interest to their payment card issuer if fees are not paid in full by the due date.
Credit card terms and conditions may apply.
Logo – https://mma.prnewswire.com/media/1913590…
View original content: https://www.prnewswire.com/es/comunicados-de-prensa/ingenico-y-splitit-se-asocian-para-ofrecer-una-solucion-buy-now-pay-later-bnpl-de-marca-blanca-en-el-punto-de-venta-301735089.html
