Global processor Worldline S.A. will make Splitit, a white-label buy now, pay later provider, available to its roster of merchants and marketplaces, starting first in North America.
Announced Tuesday, the integration will enable Worldline merchants to offer card-based installment payments within the existing checkout flow. Merchants can use their brand for the service and reduce clutter and confusion stemming from multiple payment logos in the checkout, Worldline says.
Atlanta-based Splitit’s BNPL service is slightly different from others in that its transactions are funded by a consumer’s existing credit on their payment card at checkout. Splitit does not originate new loans when consumers make a purchase using its service. Any consumer with available credit on a credit card is automatically prequalified to use Splitit for the value of that available credit, it says. Splitit has no application, registration, or interest beyond what the credit card issuer may require.
Splitit’s service is available immediately to Worldline merchants and expects to complete the technical integration in the first quarter, a Splitit spokesperson tells Digital Transactions News. “Splitit delivers a unique white-label installment service that provides consumers with a way to utilize existing credit better to split the cost of purchases while providing merchants more control over the entire experience,” Anthony Chalhoub, Worldline managing director for North America, says in a statement.
In addition to traditional retail, Splitit recently expanded to rent payments with an agreement with letus, a fintech that provides rent advances, credit reporting, and other consumer-credit services.
France-based Worldline in February agreed to sell an operating unit that consisted chiefly of Ingenico, a point-of-sale terminal maker. The buyer in the deal, valued at $2.6 billion, was asset-management firm Apollo Global Management Inc.