Splitit to Launch In-Store with Multiple New Merchants ● Global...

Splitit to Launch In-Store with Multiple New Merchants
● Global launch of in-store offering to new and existing merchants with a bricks-and-mortar presence, adding the US$450 billion1 in-store market to Splitit’s total reach
● In-store instalment solution integrates Apple Pay and Google Pay to provide a faster payment experience
● Multiple new notable merchants signed to launch Splitit InStore with over $1BN in addressable sales volume,
including La-Z-Boy Furniture Galleries, Gem Shopping NetworkTM, PROCAM, Fabergé, KEF and Aftershock PC Australia
Splitit Payments Limited (“Splitit” or the “Company” (ASX:SPT), the company empowering shoppers to use their credit cards to pay in instalments, announces the global launch of Splitit InStore. Splitit InStore enables shoppers to pay in instalments using Splitit for in-person and phone purchases from participating merchants.
Splitit InStore will provide an instalment payment option to shoppers, initiated by the retail sales associate, when making larger value purchases, such as home furnishings, jewellery, luxury retail and sporting goods. Splitit InStore will also enable shoppers to use ApplePay and GooglePay accounts via Splitit, using pay-by-link with a Splitit QR code, text message or email, when buying from participating merchants.
Splitit InStore was developed to meet growing merchant demand, as evidenced by the recent signing of multiple new notable merchants to launch Splitit InStore. The new merchants are estimated to add over US$1 billion in combined addressable sales volume2. They include La-Z-Boy Furniture Galleries, Gem Shopping Network, PROCAM, Fabergé, KEF and Aftershock PC Australia (detailed below). Splitit InStore is expected to launch commercially in August 2021 for new and existing Splitit merchants to opt-in.
"The recent shift to online has increased shopper expectations of flexible payment options at checkout. As we see a return to in-store spending in many countries, the number one request of our customers has been to provide an omnichannel experience," said Splitit CEO, Brad Paterson. "Splitit InStore was developed with our target shopper in mind, empowering our merchant customers to initiate a seamless instalment payment offering that allows shoppers to pay in a frictionless way. The addition of Apple Pay and Google Pay adds to this by creating an even simpler payment experience," concluded Paterson.


Great announcement and great move by Splitit! Another box ticked!

I am watching this space.