Divido, the white label platform for point-of-purchase finance which is licensed by retailers and lenders, has announced a new partnership with Splitit Payments Ltd. (ASX:SPT), the global monthly instalment payments solution business. The partnership will see Divido offer Split’s monthly instalment payment solution to its customers.
Divido and Splitit join forces to bring greater choice and flexibility to multinational retailers
With the changing landscape and ever-increasing shift towards a digital economy, retailers are having to become smarter in the way they interact with consumers, and offering a diversified payment experience is a crucial part of this. Earlier this year, Divido’s research, The Spending Index: Big Ticket Edition, revealed that 60% of consumers would remain loyal to a retailer if the payments process was effortless, while a third of UK shoppers state that they view paying by finance as a convenient way to spread the cost of payments.
Divido and Splitit’s new partnership addresses the desire from multinational retailers and consumers to have greater choice and flexibility at the checkout. The partnership brings the option of instalment payments to a greater number of multinational retailers. Splitit’s omnichannel and cross-border instalment solution is available as an additional payment method for Divido merchants and customers initially in the UK and U.S.
“The fast-evolving nature of the retail industry means that point-of-sale finance is now seen as a hygiene factor for multinational retailers around the world,” said Christer Holloman, CEO and co-founder, Divido. “Working with Splitit via our lending platform, through one single integration we’re able to extend our reach even further and serve the instalment needs of even more multinational retailers and end-consumer around the world.”
Divido and Splitit continue to disrupt the global lending landscape
For businesses looking to grow their existing revenue and provide finance to a greater number of retailers, Divido is the ideal technology partner. By joining Divido’s lending platform, Splitit is able to offer flexible instalment payments to a host of new multinational retailers.
Occurring via Divido’s lending platform, at the checkout, customers simply select the period of time they would like to pay via monthly instalments and enter their card details. The first instalment is taken right away, and every subsequent month, Splitit will withdraw the monthly instalment amount.
Brad Paterson, Splitit’s CEO said, “We are very excited to partner with Divido, a fellow pioneer in point-of-sale customer finance. Working together will deliver Divido’s customers the added value of our seamless solution and expand our access to a greater number of merchants, helping us provide payment flexibility to more retailers and consumers worldwide.”