Visa has allowed Splitit into its eco system just as it allows all other BNPL profiders. It also competes with them. The banks lining up to offer instalments solutions are Visa customers, Splitit cannot offer itself to them and they are Splitit's competitiors at a far lower price.Splitit and Visa is part of a broader Visa program called "Visa Ready for BNPL," but it does not mean that Splitit is the exclusive provider for all Visa installment offerings.
Agree -The banks are Visas customers and by SplitItpartnering with Visa we get access to those banks as we do with Mastercardsbanks.
Here are some key points to understand:Splitit has joined Visa's "Visa Ready for BNPL" program. This program is designed to help enable flexible Buy Now, Pay Later (BNPL) options for consumers and merchants. However, it's important to note that Visa likely has partnerships with multiple BNPL providers through this program.While Splitit is now part of Visa's BNPL ecosystem, Visa has its own installment capabilities and partnerships with other providers.Agree – only Splitit has theexclusive option to customers and merchants of offering card-based instalments.That is our patent.
Visa Instalments is a broader solution that allows issuers and merchants to offer instalment plans to their customers, which may or may not involve Splitit.Agree – our use-case is notpost purchase that involves a customer signing up to plan from the bank. Ouruse-case is during purchase.
Merchants have the flexibility to choose which BNPL providers they want to work with. While Splitit's integration with Visa may make it an attractive option for some, it doesn't mean all merchants using Visa will automatically offer Splitit as their instalment solution.Agree – only Splitit has theexclusive option to customers and merchants of offering card-based instalments.That is our patent.
In conclusion, while Splitit has partnered with Visa to offer installment payments, it is not the exclusive provider for all Visa instalments. The partnership is part of Visa's broader strategy to expand BNPL options for consumers and merchants across its network.Agree – only Splitit has theexclusive option to customers and merchants of offering card-based instalments.That is our patent.
