Splitit, an embedded white-label platform that enables customers to pay by instalments leveraging their existing credit on their bank-issued payment card at checkout, and AliExpress have announced the US expansion of the Pay After Delivery service following its successful rollout on AliExpress across Europe, including Germany, Spain, France, Italy, the Netherlands, the UK, and Australia.
Based on the information detailed in the announcement, in Spain and Germany, Splitit has also implemented its instalment service in addition to the Pay After Delivery one, allowing customers to pay over the course of three or six months for AliExpress.
Pay After Delivery is Splitit’s most recent service that enables consumers to pay for goods after delivery through a custom-branded experience embedded within the AliExpress checkout flow. The company’s flexible technology platform, coupled with Checkout.com’s payment-acquiring capabilities, enables AliExpress shoppers to pay after delivery making use of their existing credit card. What is more, Alipay is AliExpress’ global payment solution partner.
Powering the next generation of Buy Now, Pay Later (BNPL) through its merchant-branded Instalments-as-a-Service platform, Splitit aims to address 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.
Throughout 2023, Splitit has made public several developments, with the most recent one being the August 2023 news that it secured a USD 50 million growth commitment from US-based private equity firm Motive Partners to expedite its growth and facilitate the execution of its strategic plan. In May, it made two separate announcements, one centring on its collaboration with payment solutions provider Atlantic-Pacific Processing Systems (APPS) to provide an integrated card-based instalment payments solution for ISOs, ISVs, and payment facilitators, and one with Visa to offer merchants a payment instalments solution embedded within their credit card process.
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