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E-commerce platform BigCommerce Pty. Ltd. is expanding its deal with installment-payment provider Affirm Inc. to now include merchants of all sizes.
Additionally, the broadened deal affords merchants the ability to offer custom payment options, such as bi-weekly and monthly options for eligible customers on purchases ranging from $50 to $17,500. Merchants also will be able to tap into Affirm’s network of more than 12.7 million users. BigCommerce first integrated with Affirm in 2016.
As with many other buy now, pay later providers, merchants receive the full purchase amount, minus fees, within one to three days of the transaction. Consumers make their payments to Affirm. Merchants can activate the Affirm payment option within the BigCommerce portal.
“Innovative, digital payment options have become increasingly essential for merchants to offer their customers at checkout. Additionally, consumers, especially younger generations, are demanding transparency from their chosen providers,” Mark Rosales, BigCommerce vice president of payments, said in a statement.
In related news, BNPL provider Splitit Payments Ltd. said Telispire, a subsidiary of the National Rural Telecommunications Cooperative, which aims to bring technology options to rural America, will employ Splitit into its back office and billing system. This will enable Telispire’s mobile virtual network operator customers to offer installment payments to their subscribers, the company says. Splitit says the operators will not need a separate integration or manage third-party lender relationships.
“The growth of 5G has many looking to upgrade devices, giving MVNOs a simple option to offer subscribers a great way to pay over time without the complexity of traditional financing options,” Craig Andrew, Telispire chief operating officer, said in a statement.
Splitit’s installment process is embedded into the existing purchase flow and enables providers to select products or product categories eligible for Splitit’s BNPL service.
