BNPL Firm Splitit Partners With Discover Network
Buy now, pay later (BNPL) firm Splitit announced Tuesday (Oct. 12) it can offer its services to members of the Discover card network.
With this arrangement, merchants can give customers the ability to use their Discover, Diners Club card, or any other card on the Discover network at checkout in conjunction with Splitit to spread payments over time. Shoppers can continue earning credit card rewards, while getting to pay installments without any additional fees or interest from Splitit.
“We are thrilled to be working with Discover Global Network to empower their cardholders to be able to take advantage of installment payments on their preferred card,” John Harper, interim CEO of Splitit, said in the announcement. “We are confident that the added flexibility and convenience Splitit offers will also help merchants increase important performance metrics, including sales volume, average order value and cart conversion rates.”
Harper added that the partnership is a key step in the company’s “global acceptance” strategy.
Splitit, which bills itself as the only BNPL solution that ensures shoppers remain on the merchants’ websites, says it aims to provide shoppers with more choice and flexibility while increasing average order value and reducing card abandonment for its merchants.
Discover’s network has more than 50 million merchant acceptance locations, and — in addition to Discover, Diners Club and PULSE — more than 20 alliance partner networks worldwide.
Read more: Middle East’s BNPL Firm Tabby Teams With New York’s Splitit
Splitit in July announced an integration with tabby, a Middle Eastern BNPL firm, to give tabby merchants the chance to extend installments on credit cards and expand its offerings into multiple categories.
Also see: Splitit Integrates With Salesforce Commerce Cloud for Streamlined Checkout
More recently, New York-based Splitit announced it was integrating Salesforce Commerce Cloud to streamline users’ ability to make installment payments for eCommerce purchases, while giving merchants the opportunity to offer users a credit line based on the amount offered by their credit cards, but in equal, interest-free installments.