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Splitit and Alipay integrate 'Pay After Delivery' instalments on AliExpress

Monday 16 January 2023 10:37 CET | News

US-based instalment service Splitit has partnered with Alipay to enable the ‘Pay after Delivery’ option for customers of AliExpress.

 

The service will initially launch in Germany, France, and Spain, with plans to expand into other international markets.

Splitit's flexible technology platform, coupled with Checkout.com's payment-acquiring capabilities, enables AliExpress shoppers to pay after delivery with their existing credit card. The agreement leverages Splitit's Instalments-as-a-Service platform to create a custom-branded experience embedded in the AliExpress checkout flow. Alipay is AliExpress' global payment solution partner.

US-based instalment service Splitit has partnered with Alipay to enable the ‘Pay after Delivery’ option for customers of AliExpress.

Officials from AliExpress stated that Splitit was able to provide a solution that addressed their needs to deliver a modern pay-after-delivery option for AliExpress consumers. Splitit's white-label approach allows them to easily customise and integrate the service into their platform while delivering a positive experience for sellers and shoppers.

Details about the deal

The Merchant Funding Agreement shall become effective since the announcement and shall remain in full force for an indefinite period until either party gives written notice of non-renewal at least thirty (30) days prior written notice or unless the agreement is earlier terminated for breach of contract or financial instability. All other terms of the Agreement are not relevant to assessing the impact of the transaction on the price or value of Splitit's securities.

The economic materiality of the Agreement with Alipay is unknown due to the variable nature of revenues which are dependent on the value of customer purchases using Splitit's services. However, Splitit expects that extending its partnership with Alipay may have a material impact on Splitit's brand and business development prospects.

What does Splitit do?

Splitit powers the next generation of Buy Now, Pay Later (BNPL) through its merchant-branded Instalments-as-a-Service platform. Splitit is solving the challenges businesses face with legacy BNPL while unlocking BNPL at the point of sale for card networks, issuers, and acquirers all through a single network API.

The company’s Instalments-as-a-Service platform mitigates issues with legacy BNPL like the declining conversion funnel, clutter at the checkout, and a lack of control of the merchant's customer experience while putting the power back in the hands of merchants to nurture and retain customers, drive conversion, and increase average order value. Splitit's white-label BNPL is an easy instalment option for merchants to adopt, integrate, and operate while delivering an uncluttered, simplified experience embedded into their existing purchase flow.


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Keywords: BNPL, instalment payments, ecommerce, partnership, API
Categories: Payments & Commerce
Companies: AliExpress, Alipay, Splitit
Countries: World
This article is part of category

Payments & Commerce

AliExpress

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Alipay

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Splitit

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