The collaboration will embed Splitit’s technology into the Shopline platform, letting merchants activate installment payments while allowing consumers to pay over time using the available credit on their payment cards, per the release.
“The partnership addresses one of the most significant opportunities in global eCommerce today,” the release said. “Increasing numbers of brands across Asia, Europe and other international markets are expanding their direct-to-consumer businesses into the United States and other global markets. As cross-border eCommerce continues to grow rapidly, merchants are increasingly seeking localized payment experiences that improve conversion while preserving their own brand and customer relationships.”
Shopline serves more than 700,000 merchants across Asia-Pacific, Europe, North America and the Middle East, providing them with capabilities that include eCommerce, social commerce, point-of-sale, customer engagement, live commerce and cross-border selling, per the release.
By embedding Splitit’s installment capabilities into the Shopline platform, merchants can activate Splitit with little effort via a plug-in, according to the release. This will let merchants increase sales conversion, improve average order value and bolster customer lifetime value without interrupting their existing checkout experience or customer relationships.
“Commerce platforms have become the primary distribution channel for innovation in eCommerce,” John Beisner, head of acceptance partnerships at Splitit, said in the release. “…Rather than requiring merchants to build or integrate another payment solution, Splitit becomes a native capability of the Shopline platform, making adoption effortless while delivering meaningful commercial value.”
The PYMNTS Intelligence report “Beyond Pay in 4: Many BNPL Buyers Would Pay for More Time” found in August that among buy now, pay later (BNPL) customers who use four or more providers, 82% said they would pay interest in exchange to access a longer repayment cycle. For consumers who use only one provider, the share dropped to 46%, and 70% for users of two or three BNPL services.
“The gap suggests that BNPL’s most active customers could provide a natural market for longer-duration credit,” PYMNTS reported August 20. “They already use multiple providers, and their willingness to accept interest indicates that at least some are looking for how long they have to repay.”
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