Installment-payment specialist Splitit said retailers using the Salesforce Commerce Cloud can now offer the Splitit payment option via an integration into the Salesforce platform.
Announced Wednesday, the integration enables merchants to offer an installment-payment option. Upon checkout, the consumer taps the Splitit button at participating Web sites. She is presented with a form for the card number to use. The form shows the total number of installments and the payment amount for each, and asks the consumer to confirm the purchase. Merchants customize the minimum and maximum charge amounts and the minimum and maximum number of monthly payments. Merchants receive settlement deposits after each installment payment.
“The addition of Splitit’s simplified existing credit card monthly payment system gives our merchants … a solution without the need for the customer to apply for additional credit, significantly increasing customer satisfaction,” Kori O’Brien, Salesforce senior vice president of independent software vendors sales, said in a press release.
New York City-based Splitit already has integrations with e-commerce platform providers PrestaShop, Magento, Shopify, and Woo Commerce. Splitit supports transactions made with a Visa Inc. or Mastercard Inc. credit or debit card.
Installment payment is gaining interest among merchants, especially as more providers enter or add services. Klarna Inc. is adding a 30-day pay-later option this year. It already offers online financing for purchases for longer periods. And Affirm Inc. added a monthly payment option for travel-related transactions late last year.