Worldline Teams With Splitit on Installment Payments

Worldline and Splitit have signed a partnership agreement to deliver card-based BNPL payments.

Once launched, merchants and marketplaces using Worldline’s payment system will be able to use the new solution to embed buy now, pay later (BNPL) options into their checkout flow using Splitit’s white label “installment-as-a-service” platform.

Instead of originating new loans like other BNPL providers, Splitit unlocks existing consumer credit on payment cards, rebundling it in the form of  0% interest, installment-based repayment plans.

In a press release announcing the partnership, the companies said that Worldline will initially integrate Splitit into its North American processing platform, with further international expansions planned for the future.

“Splitit delivers a unique white label installment service that provides consumers with a way to utilize existing credit better to split the cost of purchases while providing merchants more control over the entire experience. We want to enable our customers with value-added payment services that are quick and easy to implement, and Splitit provides that,” Anthony Chalhoub, managing director, North America, Worldline, commented.

White label BNPL solutions offer retailers an alternative third-party BNPL buttons by allowing them to build their own branded services.

They have proven popular with retailers looking to bring BNPL in-house, as demonstrated by Tymit’s recent Series A funding round, which was led by the British retail group Frasers. The firm said in October that it would use the funding to develop its white-label BNPL solution for retailers.

Banks are also getting in on the action.

Earlier this year, Deutsch Bank announced a partnership with the FinTech Credi2 to develop a white-label BNPL offering for German eCommerce merchants and marketplaces.

Meanwhile, Barclays U.S. Consumer Bank has teamed up with Amount to tap into the growing market for point-of-sale installment financing options with a white-label solution for in-store purchases.

For all PYMNTS EMEA coverage, subscribe to the daily EMEA Newsletter.