Transforming Payment Experiences: Splitit Partners with Antom to Enhance Installment Options

Table of Contents

1. Key Highlights:
2. Introduction
3. The Rise of Card-Linked Installments
4. Antom’s Role in the Payment Ecosystem
5. Seamless Integration for Merchants
6. Eliminating Friction in the Payment Process
7. Enhancing Cross-Border Commerce
8. The Future of Payment Solutions

Key Highlights:

• Splitit and Antom have formed a strategic partnership to offer card-linked installment payment solutions, enhancing the payment processing capabilities for merchants.
• The integration allows consumers to split purchases into monthly payments at checkout using existing credit cards, eliminating underwriting and additional fees.
• Research indicates a strong merchant preference for card-linked installments, with a significant majority believing it can improve customer acquisition and retention.

Introduction

In an era where seamless transactions dictate consumer satisfaction, payment flexibility has never been more critical. The recent partnership between Splitit and Antom marks a significant advancement in payment processing technology, promising to reshape how merchants handle installment payments. By merging Splitit's innovative card-linked installment solutions with Antom's robust payment processing platform, this collaboration aims to streamline the checkout experience, enhance customer engagement, and drive sustainable growth for merchants globally.

As digital commerce continues to evolve, merchants are increasingly seeking solutions that not only facilitate transactions but also enhance customer loyalty and acquisition. Splitit’s technology allows consumers to utilize their existing credit in a manner that feels both familiar and efficient. This partnership not only simplifies the payment process but also addresses the growing demand for flexible payment options in the retail landscape.

The Rise of Card-Linked Installments

The landscape of payment options has shifted dramatically in recent years, with a growing preference for card-linked installment solutions over traditional Buy Now, Pay Later (BNPL) programs. A recent study conducted by Splitit and PYMNTS revealed that 72% of merchants favor card-linked installments, highlighting a clear trend towards this innovative payment method.

Card-linked installments offer a streamlined approach, permitting consumers to split their purchases into manageable monthly payments while using their existing credit cards. This process is devoid of the complexities associated with traditional credit applications, thus eliminating barriers that can deter consumer purchases. In a world where convenience reigns supreme, this method not only enhances the shopping experience but also provides merchants with a competitive edge.

Antom’s Role in the Payment Ecosystem

Antom, a key player in merchant payment and digitization services, plays a pivotal role in this partnership. The company prides itself on offering a comprehensive suite of digital payment solutions tailored to various industries. With the capacity to integrate over 300 payment methods and support transactions in more than 200 markets, Antom is well-positioned to facilitate the global rollout of Splitit’s card-linked installment technology.

Gary Liu, General Manager of Antom, emphasized the importance of this partnership, stating, “This collaboration supports our commitment to helping merchants achieve sustainable growth across international markets.” By leveraging Antom's extensive network and resources, Splitit’s installment payment technology can reach a wider audience, making it a valuable asset for merchants seeking to enhance their customer engagement strategies.

Seamless Integration for Merchants

One of the standout features of this partnership is the seamless integration of Splitit’s technology into Antom's payment processing platform. Merchants utilizing this platform will be able to offer card-linked installment payments directly at checkout, enabling consumers to divide their purchases into monthly payments effortlessly.

This integration requires minimal setup, allowing merchants to enhance their payment offerings without significant operational disruptions. The result is a frictionless checkout experience that not only simplifies the payment process but also boosts approval rates and increases average order values. For merchants, this means improved conversion rates and enhanced customer satisfaction.

Eliminating Friction in the Payment Process

A key advantage of Splitit’s card-linked installment solution is its ability to eliminate unnecessary friction in the payment process. Traditional installment programs often require consumers to undergo lengthy credit checks and applications, which can deter potential buyers. In contrast, Splitit’s approach allows customers to access installment payments without any new loans or hidden fees.

This streamlined process benefits both merchants and consumers. Merchants can offer flexible payment options without the complexity of managing new loans, while consumers can enjoy a straightforward payment experience that aligns with their existing credit relationships. The end result is a more inclusive and user-friendly payment method that caters to a diverse customer base.

Enhancing Cross-Border Commerce

As businesses increasingly engage in international trade, simplifying cross-border transactions becomes essential. The partnership between Splitit and Antom aims to address this need by providing enhanced capabilities for international payment processing. By integrating Splitit's technology, Antom positions itself as a leader in facilitating global commerce, making it easier for merchants to navigate the complexities of international payments.

This focus on cross-border solutions not only broadens the market reach for merchants but also enhances the overall shopping experience for consumers. By simplifying international transactions, merchants can cater to a global audience, unlocking new growth opportunities and expanding their customer base.

The Future of Payment Solutions

As the retail landscape continues to evolve, the demand for innovative payment solutions is likely to grow. The collaboration between Splitit and Antom signals a shift towards more consumer-friendly payment options that prioritize simplicity and accessibility. With consumer preferences continually changing, businesses must adapt to meet these expectations.

The integration of card-linked installment payments into the checkout process represents a significant step forward in this evolution. As consumers increasingly favor flexible payment methods, merchants who adopt these solutions will likely see improved customer loyalty and retention.

Nandan Sheth, CEO of Splitit, encapsulated this vision, stating, “Together, we’re eliminating friction and empowering merchants to boost conversions with a more inclusive, intuitive payment option.” This perspective underscores the potential of the partnership to redefine the payment experience for both merchants and consumers.

FAQ

What are card-linked installment payments?

Card-linked installment payments allow consumers to split their purchases into monthly payments using their existing credit cards, without the need for additional loans or credit checks.

How does the partnership between Splitit and Antom benefit merchants?

The partnership enables merchants to offer a seamless installment payment option at checkout, improving conversion rates, increasing average order values, and enhancing customer satisfaction with minimal integration effort.

Why are merchants preferring card-linked installments over traditional BNPL programs?

Research indicates that a significant majority of merchants find card-linked installments to be more favorable due to their simplicity, higher approval rates, and ability to enhance customer acquisition and retention.

How does this partnership facilitate cross-border commerce?

By integrating Splitit's technology into Antom's platform, the partnership simplifies international payment processing, allowing merchants to more easily engage with consumers across different markets and currencies.

What does the future hold for payment solutions in retail?

As consumer preferences shift towards more flexible and user-friendly payment options, solutions like card-linked installments are likely to gain traction, encouraging merchants to adopt innovative approaches to enhance the shopping experience.