You are missing the part where merchant either gets paid:1. In...

You are missing the part where merchant either gets paid:
1. In instalments each month when customer makes a payments - so could take 12 months to get my money back as a merchant
2. Enter into a factoring arrangement if I want to get paid immediately- this cost about 8%+ more so total cost about 10%+

Also, your SplitIt is governed by the expiry date on your credit card. If your credit card expires in 6 months, the longest period you can do is 6 months

Splitit has been around for years and only listed 13 months ago. It’s just not resonating with customers or merchants