Citibank Equal Payment Plan, page-44

The patents are moot as a financial institution can offer this in house with little hassle. This service is something that already exists other parts of the world, which is what this entire thread is based on.

Honestly, how do they add value to merchants with a deferred payment scheme? If they added value to merchants, they would have merchants... The amount of merchants that can handle a 12 month lag in their receivables are so few and far between that there is hardly a market for it. As i have mentioned in this thread already, imagine JB HIFI waiting 12 months to receive payment for stock that they had to pay for 9 months prior. It will never happen.

When it comes to the up front payment method, for which Splitit have failed to explain in detail (not a red flag lol), is also shrouded in uncertainty. If they are factoring the debt, the rates charged by the third party would have to be at least in line with that of a credit card given they have not done a credit check on the customer and would have no collateral. This rate would therefore need to be over 15% p.a. Please find me a store that would take a 15% hit to their earning when there are other schemes doing it for far less (traditional interest free offerings where they conduct a full credit check and the merchant receives their money on day 1). With your point around bad debts, although the impact is indirect, if the 3rd party financiers are having a bad experience with delinquent debts then they will exit the arrangement leaving splitit high and dry. They are very much exposed to the risk of bad debts.

They dont add value to visa or mastercard at all. If anything they detract from their value as visa and mastercard thrive on the interest charges they are able to apply, despite the fact that splitit would increase the amount of transactions.

Where are they expanding worldwide? Do they have a merchant in Australia yet?

When they become profitable? LOL. Honestly, until they show that they are able to attract a large retailer (500m+ revenue), i fail to see how profitability can even be mentioned.

There are a lot of assumptions here but unfortunately that is required given how vague all of the information coming out of Splitit is.