American buy-now-pay-later firm Splitit Payments and cloud-driven payment solutions provider Checkout.com have reached a mutual partner agreement to offer an integrated instalment payments solution.
The collaboration will enable reselling Splitit through Checkout.com’s wide network of merchants and marketplaces.
Checkout.com along with Splitit will support a simplified implementation and settlement procedure for merchants.
Besides helping the merchants and marketplaces easily adopt Splitit’s Instalments-as-a-Service platform and its services, the alliance will also allow Splitit to bolster its global product offering, stated the BNPL outfit.
The Instalments-as-a-Service platform embeds a merchant-branded experience into a merchant’s checkout flow.
It allows any consumer with an active credit card to use the instalment service without registration, additional interest, hidden fees or credit checks.
Splitit CEO Nandan Sheth said: “We are pleased to be able to partner with such a forward-looking and fast-growing platform.
“The simplified integration is anticipated to provide Splitit the ability to serve global enterprise merchants better while we work with Checkout.com to jointly pursue new and exciting opportunities in ecommerce.”
Checkout.com caters to major enterprise merchants including Farfetch, Netflix, Sony and Shein.
In January this year, the UK-based firm secured $1bn in Series D investment at a valuation of $40bn.
Recently, Checkout.com rolled out a new solution, dubbed Fraud Detection Pro, to help merchants combat online payments fraud and grow revenues.
The solution can monitor billions of transactions utilising machine learning.