Splitit releases installment payment solution for debit cards

Consumers will be able to split their purchases of USD 400 or less into up to three interest-free monthly payments using their existing debit cards. Additionally, using Splitit, consumers can continue to split any cost into up to 12 interest-free payments on an existing credit card without the need for applications or registrations for new credit lines.

Splitit’s technology provides merchants an immediately implementable solution that allows customers to split the cost of purchases into interest-free monthly payments with their existing debit or credit cards, online, on mobile or in-store. With the addition of debit cards, merchants will be able to offer customers worldwide more choice in their payment method.

Splitit offers no interest, late fees or penalties, with an instant approval with no application, registration or credit check. This allows consumers to continue reaping the benefits of their existing cards, such as miles or points.