E-commerce businesses using Shopify now have an additional payment option for their customers. Splitit has introduced an embedded app for Shopify called Splitit Card Installments, allowing shoppers to choose installment payments directly within the credit card section at checkout. This approach aims to provide a seamless payment experience without requiring users to leave the merchant’s platform. By integrating this solution, merchants can present a branded installment option while maintaining control over customer interactions and data. The feature is now accessible to Shopify merchants across multiple regions, expanding payment flexibility for consumers shopping on the platform.
When compared to similar initiatives in the installment payment industry, this integration builds on prior efforts to streamline the pay-over-time experience. Other financial service providers have introduced installment options, but many required additional steps, such as redirects or external applications. Splitit’s approach eliminates these extra processes, simplifying the consumer journey. Over time, the demand for installment-based payments has grown, driven by factors like increased e-commerce adoption and changing consumer preferences. The latest move by Splitit aligns with these trends by embedding installment options directly within Shopify’s existing checkout process.
How Does Splitit’s Integration Work?
The newly embedded Splitit Card Installments app enables merchants to offer payment flexibility within Shopify’s checkout system. Shoppers can either pay in full or opt for an installment plan without being redirected to an external site. This differs from conventional buy now, pay later (BNPL) solutions, which often require separate approvals or third-party apps. The integration works by using a shopper’s existing credit line, minimizing the need for additional credit checks or new financing applications.
What Are the Benefits for Merchants and Consumers?
For merchants, this solution allows them to retain control over customer interactions while providing an additional payment option that may increase conversion rates. Consumers benefit from a simplified process with fewer steps, making it easier to complete purchases using installment payments. Splitit’s app supports transactions in over 100 countries, enabling Shopify merchants to cater to a broader audience with localized payment options.
“Our embedded Shopify app marks a transformative leap in the installment payment landscape,” said Splitit Chief Technology Officer Ran Landau. “By seamlessly integrating into the Shopify checkout, we’ve eliminated the friction typically associated with pay-over-time solutions, a key factor in cart abandonment.”
A recent PYMNTS Intelligence report highlighted the impact of prominently displaying pay-later options before checkout. According to the findings, early visibility of installment solutions can encourage consumer adoption and influence purchasing decisions. The report also indicated that emphasizing these options early in the buying process enhances customer retention and acquisition.
“Embedding the issuer’s installments deep into commerce experiences fits with the merchant’s brand, with the merchant’s strategy and their consumer base — and drives a lot of value,” said Splitit CEO Nandan Sheth. “It’s not just about driving the sale for today but ensuring that the customer comes back to your brand.”
This integration reflects a broader trend in payment solutions, where simplicity and efficiency are prioritized to enhance the shopping experience. By reducing friction in the checkout process, merchants can potentially reduce cart abandonment and improve customer satisfaction. As consumer preferences continue to evolve, payment providers will likely introduce further innovations to meet growing expectations for seamless transactions. Businesses adopting such features may see increased engagement and loyalty from customers who prefer flexible payment options.
