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Payment Processing Software
Splitit reviews and summary
Splitit is an installment payment solution that allows shoppers to pay for purchases over time using their existing credit card, without requiring a separate loan application. At checkout, customers can choose to split the total cost into several smaller, equal monthly payments. The unique mechanism involves placing a hold on the shopper's available credit limit for the full purchase amount, and then charging it in increments as the installments are due. Crucially, Splitit merchants absorb the fee, meaning customers pay no interest, no additional fees, and undergo no credit checks. This provides the flexibility of 'buy now, pay later' while leveraging the consumer's curre... This solution is targeted at online retailers selling mid-to-high-value item...
Best for
This solution is targeted at online retailers selling mid-to-high-value items such as electronics, furniture, jewelry, or luxury goods. It is ideal for merchants who want to increase conversion rates and average order value by offering an attractive, zero-cost financing option to their customers, particularly those who are credit-worthy but averse to traditional loans or high-interest plans.
Category
Payment Processing Software
Vendor
Splitit
Key takeaways
Our verdict
Our verdict is that Splitit offers a compelling and consumer-friendly approach to installment payments. Its no-interest, no-fee model using existing credit is a significant advantage in a crowded market. For merchants, it can be a powerful sales tool, though they must weigh the cost of the merchant fee against the potential uplift in sales. It's a well-conceived solution for frictionless financing.
Quick facts
Splitit at a glance
Vendor
Splitit
Category
Payment Processing Software
Ratings
Splitit ratings
There is not enough rating data for this software yet. Rating details will appear when reviews or reliable aggregate rating data are available.
Decision notes
Splitit pros and cons
Potential strengths
- Clear buyer-fit positioning is available in the profile data.
Points to verify
- Confirm current pricing, contract terms, and included plan details with the vendor.
- Confirm product-specific availability for category-level features before buying.
- There are no written reviews for this software yet.
- Published pricing is not available in this profile data.
Buyer fit
Who uses Splitit?
This solution is targeted at online retailers selling mid-to-high-value items such as electronics, furniture, jewelry, or luxury goods. It is ideal for merchants who want to increase conversion rates and average order value by offering an attractive, zero-cost financing option to their customers, particularly those who are credit-worthy but averse to traditional loans or high-interest plans.
Feature research
Splitit features
These are common features buyers compare in Payment Processing Software. Product-specific availability should be confirmed with the vendor.
ACH Transaction Processing
Process incoming credits and outgoing direct debits via the automated clearing house electronic system.
Billing & Invoicing Management
Generate and oversee financial documents, including billing statements and invoices.
Crypto Transaction Processing
Enables acceptance and processing of cryptocurrency transactions, including Bitcoin.
Data Privacy & Security
Safeguard digital privacy and ensure the integrity and security of stored data.
Card Transaction Processing
Handle and process transactions made with credit and debit cards.
Digital Signature Integration
Securely execute and authenticate documents digitally within the software platform.
Physical Payment Processing
Accepts and processes various in-person payment types, such as EMV chip cards, NFC tap cards, and mobile payments like Apple Pay and Google Pay.
Client Mobile Payments
Allows clients to make payments using their mobile devices.
Diverse Payment Processing
Processes payments through various methods directly within the application.
Web-Based Payments
A dedicated digital portal allowing customers to securely settle their invoices online.
Fraud Prevention for Payments
Provides tools for detecting and preventing payment fraud, including authorization, dual authentication, address verification, risk scoring, and seller protection.
Financial Transaction Processing
Securely handle, document, and balance incoming financial payments and transactions.
Compare
Splitit alternatives
Compare Splitit with other Payment Processing Software tools that buyers often evaluate.
Stripe by Stripe
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Payoneer by Payoneer
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OmniFund by Fortis Payment Systems
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InvoiceASAP by InvoiceASAP
InvoiceASAP is built for service operators who invoice from the field and need quick billing cycles. It enables mobile invoice creation, supports online payment, and keeps client w...
Software reviews
Splitit software reviews
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FAQ
Splitit FAQs
Splitit is an installment payment solution that allows shoppers to pay for purchases over time using their existing credit card, without requiring a separate loan application. At checkout, customers can choose to split the total cost into several smaller, equal monthly payments. The unique mechanism involves placing a hold on the shopper's available credit limit for the full purchase amount, and then charging it in increments as the installments are due. Crucially, Splitit merchants absorb the fee, meaning customers pay no interest, no additional fees, and undergo no credit checks. This provides the flexibility of 'buy now, pay later' while leveraging the consumer's curre...
This solution is targeted at online retailers selling mid-to-high-value items such as electronics, furniture, jewelry, or luxury goods. It is ideal for merchants who want to increase conversion rates and average order value by offering an attractive, zero-cost financing option to their customers, particularly those who are credit-worthy but averse to traditional loans or high-interest plans.
Splitit is listed in Payment Processing Software.
Splitit is listed with Splitit as the vendor.
Buyers often compare Splitit with other Payment Processing Software tools such as Venmo, Stripe, Square Payments, Payoneer. Review ratings, pricing, and fit before choosing.
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