This collaboration leverages Highnote’s tokenised virtual card technology, allowing consumers to split purchases into instalments using their existing credit cards without requiring additional credit approval.
The partnership taps into Highnote’s virtual card issuance and tokenisation capabilities to facilitate real-time transactions for Splitit. With this integration, merchants receive payments through tokenised virtual cards, while consumers gain a seamless way to manage instalment payments via their digital wallets. The approach enables Splitit to offer an embedded pay-later option without the need for a separate credit application process.
Representatives from Splitit stated that, following a comprehensive review of available solutions, Highnote’s platform was selected due to its ability to scale and provide the security necessary to support expanded payment offerings. The integration is expected to improve the checkout experience for consumers by streamlining instalment payment options within digital wallets and merchant platforms.
Highnote officials highlighted that the collaboration aligns with the company’s goal of supporting new payment solutions. They emphasised that the partnership introduces a distinctive card-linked instalment model that enhances flexibility in consumer payments.
Splitit will also use Highnote’s on-demand funding and collaborative authorisation features to support its market rollout. These capabilities are designed to optimise the efficiency of the instalment payment process while ensuring security and reliability for both merchants and consumers.
Highnote is a provider of Embedded Finance solutions that enable companies to integrate virtual and physical card payments, ledger functionalities, and digital wallets into their products. Based in San Francisco, the company has secured over USD 100 million in funding from investors.
Splitit offers an instalment payment solution that allows consumers to divide purchases into monthly payments using their existing credit cards. The service is available through a range of ecommerce merchants in over 30 countries, supporting shoppers across more than 100 countries.
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