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May 25, 2022

Splitit signs BNPL partnership with BlueSnap

Splitit, which allows shoppers to use their credit cards to pay in instalments, has expanded its partnership with payment orchestration platform BlueSnap to offer buy-now-pay-later (BNPL) options for merchants.

Free Report
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What does the future hold for BNPL market?

The global Buy Now Pay Later (BNPL) market is estimated at a massive $120 million in 2021 – representing just less than 3% of the global ecommerce market. Yet the user-base is massive, with leading provider, Klarna, alone reportedly having 87 million users in 2021. This market is only expected to grow, with established companies like Apple and Goldman Sachs moving into the BNPL sector in bids to capitalize on this trend. To help you make the most of this growing market, GlobalData’s Buy Now Pay Later in 2022 and Beyond report provides detailed insight into the BNPL sector. This report:
  • Discusses the disruptive potential of the BNPL sector on the payments industry
  • Identifies the leading companies that are driving sector growth and the benefits this new payments solution provides to both merchants and consumers
  • Analyzes the consumer’s risk of using BNPL loans and government attempts at introducing regulations to the sector
  • Uncovers the main risks that consumers expose themselves to when borrowing with BNPL
Download this free report to get to know where this developing market is headed, and how you can reshape your strategies.
by GlobalData
Enter your details here to receive your free Report.

BlueSnap will act as Splitit’s preferred processing partner for processing instalments for all joint and direct merchants across key industry verticals in the countries and regions where it operates.

The firm will also enhance Splitit’s distribution capabilities through its network of mid-market and enterprise customers.

As part of the collaboration, Splitit’s Installments-as-a-Service white-label BNPL platform will be integrated into BlueSnap’s All-in-One Payment Orchestration Platform to add instalment payments options in the BlueSnap merchant portal.

Splitit CEO Nandan Sheth said: “We are excited to build on our relationship and invest in our future together by embedding Splitit’s Installments-as-a-Service into such a high-growth and modern payment platform like BlueSnap.

“BlueSnap has done a phenomenal job supporting the global payment needs of mid-market and enterprise businesses. Our new integration will allow us to jointly go to market while cross-selling into the existing BlueSnap merchant base.”

Splitit’s white-label instalment plugin allows merchants to offer consumers pay-later option without adding new debt or impacting their credit reports.

BlueSnap’s payment orchestration platform allows businesses to accept payments in more than 200 regions with access to local card acquiring in 47 countries.

The platform also provides back-end solutions that help businesses enhance payments, and manage the entire process from start to finish.

BlueSnap CEO Ralph Dangelmaier said: “The opportunity to leverage the strength of our mutual platforms, powering a true white-label BNPL option, to the forefront of our customer base is exciting.

“We are also excited that Splitit selected BlueSnap as its global payment processing partner for their direct business. This allows us to offer a fully integrated solution, reducing the complexity for our merchants.”

Last year, Splitit launched in-store payment capability for shoppers globally.

Free Report
img

What does the future hold for BNPL market?

The global Buy Now Pay Later (BNPL) market is estimated at a massive $120 million in 2021 – representing just less than 3% of the global ecommerce market. Yet the user-base is massive, with leading provider, Klarna, alone reportedly having 87 million users in 2021. This market is only expected to grow, with established companies like Apple and Goldman Sachs moving into the BNPL sector in bids to capitalize on this trend. To help you make the most of this growing market, GlobalData’s Buy Now Pay Later in 2022 and Beyond report provides detailed insight into the BNPL sector. This report:
  • Discusses the disruptive potential of the BNPL sector on the payments industry
  • Identifies the leading companies that are driving sector growth and the benefits this new payments solution provides to both merchants and consumers
  • Analyzes the consumer’s risk of using BNPL loans and government attempts at introducing regulations to the sector
  • Uncovers the main risks that consumers expose themselves to when borrowing with BNPL
Download this free report to get to know where this developing market is headed, and how you can reshape your strategies.
by GlobalData
Enter your details here to receive your free Report.

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