Yes Splitit does not have exclusive rights ( I assumed it from the beginning), if it had then Spliit would become like the FANGs , which is more of a fairy tale ending.
I believe the key lies in partnerships like tabby , Qisstpay and the likes.
With partnerships with VISA / MC /Apple Pay/ Google pay, splitit would need to execute some part ( 1% to 5 % ) of these transactions.