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7.5¢ splitit payments ltd

All true and in my view correct statements. It’s funny how...

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Risebabyrise

281 Posts.

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19/02/22

09:15

Post #: 59676443
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All true and in my view correct statements. It’s funny how people miss or don’t understand the difference.
For example, ZIP in trustpilot they classify themselves or being classified as a “In the Non-Bank Financial Service category” while Splitit on the other hand as a “In the Payment Service category”. 2 different concepts.

Originally posted by Treba ↑

Its very funny how people view splitit and I think it is because of the other BNPL platforms messages occuring simeltaneously.

If BNPL did not exist the message would be alot clearer.

Splitit need to distance themselves from BNPL in their education. All of those bad reviews are from users who have assumed a BNPL structure where someone else pays for their product on their behalf (ironically thats also what a credit card does, the bank pays)

Its mind numbing really.
Funnily if those same people made a $4k purchase on a credit card without splitit and have $4k deducted from their available line of credit they wont complain.

All of a sudden they make a $4k purchase with potentially 0% interest on the same credit card with splitit and are basically expecting not to have $4k deducted from their available line of credit.

They completely miss the cashflow benefits and avoidance of interest on a larger amount.

Its like they do not understand that their credit card is "available credit" that their bank is willing to give them without asking questions and they think it is actually their money.

The same people accept not being able to make another purchase using standard BNPL until they have paid back a certain amount...or effectively the "available credit" that a BNPL is willing to afford them.

Seemingly a very hard concept to grasp but so simple in reality. Splitit is not BNPL...the credit card is the original BNPL and Splitit is a technology feature to benefit users.

Maybe they should market it more like that to card users.....something like...
- Are you a credit card user?
- Reduce your minimum monthly repayments and achieve 0% Credit Card interest on your terms with Splitit.

It simply needs to be removed from BNPL type and marketed to card users as a tool to beat card fees.

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SPT Price at posting: 18.5¢ Sentiment: None Disclosure: Held
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All true and in my view correct statements. It’s funny how...

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