Splitit has announced the Splitit World Mastercard, a white-label credit card with built-in instalments for mid-sized banks and credit unions.
US-based instalment payments provider Splitit revealed that the card is expected to become available to financial institutions in early 2027. It is aimed at mid-sized banks, credit unions, and other financial institutions, and is issued on the Mastercard network under each institution’s own brand. Splitit describes it as a credit product that pairs the simplicity and spending discipline associated with debit with optional pay-over-time functionality.
How the instalment mechanism works
The card’s default setting treats everyday purchases as pay-in-full transactions, with balances settled within 30 days. Cardholders set a spending threshold in the mobile app, and purchases above it can be split automatically into fixed monthly payments. Under this model, a small daily purchase such as a coffee would stay outside the instalment flow, while a higher-value item such as a laptop could be moved into a monthly plan without a separate application.
Cardholders keep control over each transaction. Before the statement due date, they can return an instalment purchase to pay in full or change the terms of the plan in the app.
Division of roles between Splitit, issuers, and Mastercard
Splitit provides the instalment technology and an AI-enabled mobile experience that institutions can embed in their existing apps. The issuing institutions provide their customer relationships, brands, and distribution. This means banks can extend their lending and payment offerings inside their own customer experience instead of handing the customer relationship to a third-party provider.
According to Nandan Sheth, CEO of Splitit, many banks already hold the primary account and the brand relationship, but lack a way to offer instalments at the point of purchase without building a lending operation from the ground up. The white-label card is intended to fill that gap, a move that Splitit says matters particularly for smaller and mid-sized institutions competing for a larger share of customers’ everyday spending.
Mastercard brings its global payments infrastructure, acceptance network, and relationships with financial institutions. Issuers, merchants, and distribution partners taking part in the programme must follow network guidelines, responsible lending practices, and data usage requirements. Cardholders receive the standard protections attached to Mastercard products, including tokenisation, dispute resolution, and Zero Liability Protection.
Splitit’s wider footprint
The card extends Splitit’s existing bank and credit union proposition, which already includes instalments integrated into institutions’ digital channels. The company reports around 4,500 active merchants in 30 countries using its card-linked instalments within their own checkout flows. In addition, Splitit instalments are also available in Samsung Wallet.
