PayItSimple USA has entered into a partnership with North American Bancard (NAB) to expand the distribution of its PCI-compliant payment solution technology.
PayItSimple CEO Alon Feit said: "Our partnership with North American Bancard will help us to provide a new payment solution that could increase sales and average ticket size of small, medium and large merchants."
North American Bancard vice president channel sales Pat Ward said: "NABVelocity is thrilled to offer our partners and merchants the PayItSimple installment solution. The PayItSimple solution allows merchants to offer consumers an easy, no hassle way to make big-ticket purchases that they may other-wise delay or avoid."
The cloud-based payment solution allows merchants to offer their customers instant, interest-free installment payments on the VISA and MasterCard credit cards, with distribution via NAB’s agent and ISO reseller base.
The solution also enables merchants to receive their funds in monthly installments or to receive the amount of the purchase upfront.
In order to use the solution, customer has to select the number of installment payments during the check-out process after which PayItSimple approves the entire amount of the purchase on the shopper’s existing credit card.
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By GlobalDataUnder the deal, NAB’s front-end gateway, Velocity will offer PayItSimple with a single interface to all of NAB’s merchants.
