Back on the wrong tramline again sneef. A simple search reveals the following:
There does not appear to be any direct connection between Splitit and the Visa Installment Solution (VIS) for ADIB cardholders at NEOPAY merchant locations in the UAE.The information primarily focuses on the partnership between Abu Dhabi Islamic Bank (ADIB), Visa, and NEOPAY to implement the Visa Installment Solution. Specifically:
ADIB has partnered with Visa to offer the Visa Installment Solution (VIS) to its covered cardholders in the UAE.
NEOPAY, a payment subsidiary of Mashreq, is the first acquirer to enable VIS at local merchants in the UAE.
The VIS allows ADIB Visa-covered cardholders to opt for installment payments at checkout in-store, breaking down their purchases into smaller, equal payments.
Splitit, on the other hand, is mentioned in separate search results and appears to be a different installment payment solution:
Splitit works with existing credit cards and does not require new loans or applications.
It is supported by Visa, Mastercard, and sometimes American Express, Discover, and UnionPay, depending on the merchant.
Splitit's system involves authorizing the full purchase amount on the credit card and reserving the balance, then charging monthly installments.
While both Splitit and the Visa Installment Solution offer installment payment options, they seem to be separate services with no direct connection mentioned in the provided search results.
SPT Price at posting:
7.5¢ Sentiment: None Disclosure: Not Held