Splitit Launches Innovative Payout-as-a-Service Platform and Announces OCM as the First Merchant to Fully Adopt the Technology

Splitit’s white label payout plugin allows merchants to nurture and retain customers, build loyalty and promote brand consistency on their terms. Any consumer with the available balance on their credit card is automatically pre-qualified to use Splitit. There is no demand, interest or hidden charges and no changes to their credit report, which creates the least amount of friction for consumers.

“Splitit is not a payment method. We are not an engine of offers using harvested data or a great application in the making. We are a premium service that allows consumers, merchants, processors, networks and issuers. We are the only installment payment platform to deliver a unified global experience using existing payment rails,” notes Sheth. “The appeal of Splitit is that any consumer who has used their card to making a purchase will intuitively find in our solution an easier means of payment.”

A unique global API makes Splitit’s payout-as-a-service the easiest pay-after option to implement. It integrates with existing acquirers and the current payment flow, allowing merchants to use the same processor they use today. Whether the merchant is looking for a local or global solution, setup can be done in days or weeks.

The largest academic e-commerce platform CMO – powering digital commerce for millions of students, parents, faculty and staff – announced that it will implement Splitit’s white-label payout solution.

“OCM has been a Splitit customer for two years with resounding success and positive customer reviews. We appreciate Splitit’s white label strategy,” said Amit Gaur, CIO and CTO of OCM. “We are working with Splitit to optimize the discovery, checkout and post-sales experience and look forward to launching the new service in Q3 2022. It could achieve 4x higher conversion, order value 30% higher average and achieve over 50% of our payout by integrating the functionality into the existing purchase flow.”

“The first phase of our plan is to white label our solution to acquirers, merchants and Independent Software Vendors (ISVs) in the United States. But our future vision is to expand globally, offering a consistent for cross-border and global markets,” Sheth added.

Merchants looking to take advantage of Splitit Payouts as a Service can start today at www.splitit.com.

About Splitit
Splitit powers the next generation of Buy Now, Pay Later (BNPL) through its payout platform as a merchant-branded service. Splitit solves the challenges enterprises face with legacy BNPL while unlocking BNPL at the point of sale for card networks, issuers, and acquirers, all through a single network API.

Splitit’s Payouts-as-a-Service platform alleviates issues with the old BNPL, such as declining funnel, checkout clutter, and lack of control over the merchant’s customer experience, empowering merchants to nurture and retain customers, boost conversion and increase average order value. Splitit’s white label BNPL is the easiest payout option for merchants to adopt, integrate and operate while providing a clean and streamlined experience integrated into their existing purchase flow. With no apps, referrals, or new loans, Splitit is one of the most responsible installment payment options for customers.

Based at New YorkSplitit has an R&D center in Israel and offices at London and Australia. Splitit is listed on the Australian Securities Exchange (ASX) under the symbol SPT and also trades on the US OTCQX under the symbols SPTTY (ADR) and STTTF (common stock).

Contact information
Brian WhiteSeparate it
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+1 760 917 3321

Stacy Bern or Michael McMullanBerns Communications Group
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