Latest news with #Splitit
Yahoo
5 days ago
- Business
- Yahoo
/C O R R E C T I O N -- Splitit USA, Inc./
In the news release, Samsung Wallet Launches In-Store Installment payments Through Splitit, issued 24-Jul-2025 by Splitit USA, Inc. over PR Newswire, we are advised by the company that information has been updated. The complete, corrected release follows: Samsung Wallet Launches In-Store Installment payments Through Splitit In-Store Shoppers Can Now Pay Over Time Using Samsung Wallet ATLANTA, July 24, 2025 /PRNewswire/ -- Splitit is collaborating with Samsung to bring installment payments to Samsung Wallet as a new feature that lets users pay over time using their existing credit at the in-store point of sale. The integration marks the first time an installment payment solution has been built directly into Samsung Wallet, giving consumers a simple, flexible way to split purchases into smaller payments without new credit checks or applications.[1] "Samsung Wallet is a trusted tool for millions of users, and now, with flexible payment solutions at countless locations, we're giving people more control of their finances," said Drew Blackard, Senior Vice President of Mobile Product Management at Samsung Electronics America. "New installment payment options are just another added layer to Samsung Wallet, which can help you keep track of key information — including your credit cards, boarding passes, IDs, and more." According to the J.D. Power 2025 U.S. Buy Now, Pay Later Satisfaction Study, card-linked installment plans received higher customer satisfaction scores than traditional BNPL offerings. The new feature will allow eligible Samsung Wallet users to break up payments into manageable installments directly through their mobile device at the point of sale. "In-store shopping still accounts for the majority of U.S. consumer spending, yet installment payments have remained largely confined to e-commerce," said Nandan Sheth, CEO of Splitit. "That changes today. For the first time in the U.S., in-store card-linked installments are available at scale through Samsung Wallet. Our partnership marks a pivotal moment in the evolution of payments and customer experience—giving in-store shoppers a seamless way to pay directly from their phones, while helping merchants improve conversion, increase basket sizes, and meet rising expectations at the point of sale." Through this partnership, consumers in select locations will be able to access the power of Splitit's installment platform without leaving the Samsung Wallet ecosystem. Key benefits of Samsung Wallet Installment payments: Use existing credit: No need to apply for a new line of credit—just link an eligible Mastercard or Visa credit card. No credit check: Consumers use their available credit—it's that simple. In-store convenience: Pay in installments for everyday purchases directly at the point of sale, right from Samsung Wallet. Flexible plans: Choose from flexible payment schedules—designed to fit a broad range of budgets and timelines. Rolling out to users beginning July 25, 2025, the Samsung Wallet Installment feature will be available on Samsung Galaxy smartphones including the new Galaxy Z Fold7 and Galaxy Z Flip7[2] for residents of the following states with an eligible credit card: Arizona, Arkansas, Colorado, District of Columbia, Georgia, Idaho, Illinois, Kansas, Louisiana, Maine, Maryland, Michigan, Missouri, Montana, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Tennessee, Utah, and Wyoming. About SplititSplitit is a global payment solution provider that lets shoppers use the credit they've earned by breaking up purchases into monthly installments using their existing credit card. Splitit enables merchants to improve conversion rates and increase average order value by giving customers an easy and fast way to pay for purchases over time. Splitit serves many of Internet Retailer's top 500 merchants and is accepted by more than 1,500 eCommerce merchants in over 30 countries and shoppers in over 100 countries. Lending services provided by Splitit Consumer Funding LLC (NMLS# 2630622). Service is subject to eligibility checks, credit card eligibility and application approval. Terms and fees apply. For license and disclosure information, see Splitit Media Contact:Berns Communications GroupDanielle Poggidpoggi@ [1] Samsung Wallet supports payment installments of six or eight bi-weekly payments (two-week cycle), and six or nine monthly payments (monthly cycle). [2] Only compatible with select Visa and Mastercard credit cards from participating banks. Credit Cards issued by JPMorgan Chase Bank, N.A. are not currently supported for Installment Payments. Credit card eligibility subject to change. Your credit card terms and fees apply. View original content to download multimedia: SOURCE Splitit USA, Inc. Sign in to access your portfolio
Phone Arena
5 days ago
- Business
- Phone Arena
A new Samsung Wallet feature could rival Apple Pay Later when buying a new phone
The installment service is made possible through Samsung's partnership with Splitit, a third-party provider. Importantly, users won't need to apply for a new line of credit or pass a credit check to use the feature. The funds are drawn from the existing balance of the card you already have in your Wallet. Once you make a purchase, you can choose from one of four plans: six payments every two weeks, eight payments every two weeks, six monthly payments, or nine monthly payments. If no option is selected within 24 hours, the payment is processed in full. The installment service is made possible through Samsung's partnership with Splitit, a third-party provider. Importantly, users won't need to apply for a new line of credit or pass a credit check to use the feature. The funds are drawn from the existing balance of the card you already have in your you make a purchase, you can choose from one of four plans: six payments every two weeks, eight payments every two weeks, six monthly payments, or nine monthly payments. If no option is selected within 24 hours, the payment is processed in full. Receive the latest Samsung news Subscribe By subscribing you agree to our terms and conditions and privacy policy Are you more likely to purchase flagship devices if you had the option to split up the payments? Yes No It doesn't matter since I'm spending the same anyway Yes 0% No 0% It doesn't matter since I'm spending the same anyway 100% To use it, just tap 'Pay in installments' under an eligible card in Samsung Wallet. You'll then be prompted to pick a plan based on your budget. After that, you can keep track of your scheduled payments right from within the app. At launch, participating states include Arizona, Arkansas, Colorado, Georgia, Idaho, Illinois, Kansas, Louisiana, Maine, Maryland, Michigan, Missouri, Montana, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Tennessee, Utah, Wyoming, and Washington D.C. According to Drew Blackard, SVP of Mobile Product Management at Samsung Electronics America, the move aligns with Samsung Wallet's broader goal of convenience: — Drew Blackard, Senior Vice President of Mobile Product Management at Samsung Electronics America This addition may be especially useful for Galaxy device owners heading into the fall, as Samsung has just launched its latest generation of foldables, including the This addition may be especially useful for Galaxy device owners heading into the fall, as Samsung has just launched its latest generation of foldables, including the Galaxy Z Fold 7 . While this move could simplify how users manage larger payments, it also places Samsung in closer competition with other mobile wallet services that have introduced similar buy-now-pay-later tools in recent years. At launch, participating states include Arizona, Arkansas, Colorado, Georgia, Idaho, Illinois, Kansas, Louisiana, Maine, Maryland, Michigan, Missouri, Montana, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Tennessee, Utah, Wyoming, and Washington to Drew Blackard, SVP of Mobile Product Management at Samsung Electronics America, the move aligns with Samsung Wallet's broader goal of convenience: To use it, just tap 'Pay in installments' under an eligible card in Samsung Wallet. You'll then be prompted to pick a plan based on your budget. After that, you can keep track of your scheduled payments right from within the app. Samsung Wallet users in the U.S. are about to get more flexible ways to pay, as Samsung is rolling out a new installment payments feature starting July 25. The option will initially be available in 21 states and Washington D.C., with plans to expand nationwide by the end of new capability builds on the recent addition of Tap to Transfer, giving users another payment option when making in-store purchases. Instead of paying the full amount upfront, customers can now divide their transaction into smaller payments using their eligible Visa or Mastercard credit card.
Forbes
16-04-2025
- Business
- Forbes
The Tariff Economy: Pricing Pressures Are Reshaping Financial Habits
As credit card debt surges past $1.2 trillion, according to the American Financial Services Association, interest rates remain stubbornly high. Plus, uncertainty around tariffs adds pressure on the cost of everyday goods. Many Americans are feeling the strain. In today's economic environment, maintaining financial stability is becoming increasingly difficult. Consumers are already managing significant debt loads—and evolving trade policies could add further cost pressures. In a time when tariffs and supply chain pressures may increase the prices of everything from clothing to groceries, consumers are more cautious with spending and more selective about the financial products they trust. As expenses rise, so does the need for smarter, more flexible solutions to help people manage these dynamics and adapt to what's ahead. As tariffs add new pressure to household budgets, consumers are already looking for smarter and more flexible ways to make purchases. Features like automated saving or debt payoff—"set it and forget it" solutions—are a hit with busy people managing complex financial lives. Transparency is also critical. Confusing fine print and surprise charges? Consumers don't have the patience—or the budget—for that anymore. The idea that fintech is just for the young is now ancient history. People of all ages are jumping on board as economic uncertainty and rising living costs drive demand. Boomers and Gen X, for example, are now among the most active users of digital financial tools, according to a 2024 survey conducted by PYMNTS Intelligence and Splitit, my startup. Especially when it comes to budgeting, credit monitoring, and payment management, older generations are using fintech solutions. That shift comes as many face mounting financial pressure, now exacerbated by tariffs, both new and threatened. Additionally, market volatility is making it increasingly difficult for consumers who rely on their 401(k) or investment portfolios to maintain their financial security. According to the American Association of Retired Persons, more than a third of Gen X and Baby Boomers report rising credit balances. Gen X, often sandwiched between supporting aging parents and raising children, carries the highest credit card debt of any generation, with an average balance of $9,557, according to Forbes Advisor. To truly address today's volatile economic realities, fintech can help by going beyond convenience and lean into three foundational imperatives that reflect both market conditions and consumer behavior: 1. Data-Driven Transparency Amid inflation, high interest rates, and tariff-related uncertainty, consumers need more than simplicity—they need clarity with confidence. Fintech tools should be personalized, surfacing actionable AI powered insights, reducing cognitive friction, and guiding users through complex financial decisions in real time. It's not just UX—it's contextualized intelligence. 2. Adaptive Flexibility That Preserves Liquidity With rising and unpredictable expenses—from utilities to grocery bills—consumers need more than getting more on-demand credit. Fintech must offer flexible solutions like dynamic installments and on-demand payments that help manage cash flow without deepening debt. The aim: liquidity with control, not just credit access. 3. Human-Centered Design At Scale Financial health varies dramatically by age, income, and digital fluency. Fintech must serve the digitally native and the digitally cautious alike—building inclusive products through behavioral segmentation, personalized experiences, and real-world use cases, not idealized user personas. To make a meaningful impact, fintech must not just cater to diverse needs—it must measurably improve financial outcomes. That means solving for volatility, liquidity, and financial decision fatigue through smarter, more adaptive tools. Here are some innovations that stand out: 1. Precision Budgeting Through Behavioral Nudges Basic budget tracking is table stakes. What's driving change now is the use of behavioral science to influence financial decisions. Tools like YNAB and Copilot don't just track spending—they reframe how people think about money by assigning every dollar a job and using personalized alerts to preempt overspending. This approach increases engagement and has been shown to reduce overdraft and credit usage for heavy users—critical as consumers face persistent inflation and unstable income cycles. 2. Real-Time Liquidity Without Long-Term Debt The value of flexible payments isn't the 'pay in four' model—it's liquidity without new revolving debt. Targeted solutions like Apple Pay Later, Rain and EarnIn, among many others, enable consumers to smooth cash flow during crunch moments—like rent week or unexpected bills—without locking them into interest-bearing debt cycles. These tools are particularly effective among hourly and gig workers navigating irregular pay schedules, offering an alternative to high-cost BNPL fintechs or payday loans. 3. Embedded Credit Intelligence, Not Just Monitoring Credit Karma and Experian Boost were early to personalize credit tracking. But newer entrants like Tomo and Grow Credit take it further by helping users build credit through everyday behaviors—such as paying Netflix or phone bills—without traditional borrowing. These tools are particularly relevant for thin-file or credit-invisible users, especially younger consumers or immigrants, who historically have limited access to mainstream credit. 4. Hyper-Personalized Financial Guidance At Scale Financial literacy platforms like Cleo and Albert are replacing generic advice with AI-powered, hyper-personalized coaching. By analyzing income, expenses, and behavioral patterns, they deliver timely nudges and interventions—like recommending when to pause spending or renegotiate bills. Some, like Savvy Ladies, are tackling systemic gaps by offering specialized content for underserved groups, including women and minorities. 5. Automation That Drives Intentionality, Not Apathy Automation alone doesn't create change—but intentional automation does. Apps like Qapital and Monarch Money tie savings triggers to behavioral goals, like rounding up for every workout or saving when users don't order takeout. These micro-behaviors build financial confidence and drive habit formation—key factors in sustaining long-term resilience, especially in high-cost environments. As tariffs loom and the cost of living spikes—from groceries to school supplies—millions of Americans are one unexpected expense away from deeper debt. This isn't the time for flashy features. It's time for fintech and traditional financial services providers alike to step up and deliver real economic utility. This is about resilience, not convenience. The best fintech players aren't offering more credit—they're offering better control and the ability to utilize relationships and credit that consumers already have. They're giving consumers the power to break purchases into manageable chunks on their existing bank cards, automate smarter money moves, and stay ahead of financial stress without sinking into interest-laden traps, laid by predatory consumer lenders. In a landscape where fintech lenders are racing to saddle Americans with more debt—prioritizing fees and interest over financial outcomes—many consumers are being pushed into a trap with no clear way out. Responsible fintech players are positioned to rewrite the rules—no credit pull, no revolving debt, no hidden fees and no gimmicks. Just intelligent, accessible tools that meet people where they are and help them move forward. The most forward-thinking fintechs aren't exploiting vulnerable consumers—they're proving that helping people make smarter financial choices isn't just good ethics, it's better business than bleeding them dry with hidden fees and revolving debt. This is more than a market opportunity—it's a mandate. With consumers bracing for price hikes and growing debt burdens, fintech must step up to reimagine the future of consumer finance.
Yahoo
25-03-2025
- Business
- Yahoo
Splitit Unveils First Fully Embedded White-Label Installment Solution for Shopify Merchants
New Embedded Shopify App Offers One-Click Payment Installments and All-in-One Credit Card Processing Service ATLANTA, March 25, 2025 /PRNewswire/ -- Splitit, a global leader in credit card-linked payment installments, announces the launch of its new fully Embedded Shopify App - Splitit Card Installments. This new app provides merchants with an all-in-one service, including credit card processing, while delivering a seamless one-click installment payment experience for consumers, without any redirects or applications. "Our Embedded Shopify App marks a transformative leap in the installment payment landscape," said Ran Landau, CTO of Splitit. "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. This white-label approach empowers merchants to offer branded, one-click installment options while maintaining full control over their customer journey and data. For shoppers, it provides unparalleled convenience, allowing them to easily manage their finances without leaving the merchant's ecosystem. This innovation not only enhances the customer experience but also presents a significant opportunity for merchants to acquire and retain customers in an increasingly competitive e-commerce landscape." Splitit's app is entirely embedded into the Shopify checkout, empowering shoppers to choose between paying in full or in installments directly within the credit card section—no redirects, applications, or disruptions. This seamless integration enhances the user experience, which is critical given that 22% of online shoppers abandon the checkout process due to its complexity or length. As a white-label solution, the app allows merchants to maintain complete control over their brand identity and customer relationships. There's no third-party branding to distract from the merchant's own identity, and all first-party customer data remains securely in the merchant's hands. This approach ensures a consistent brand experience throughout the entire customer journey. Splitit's Embedded Shopify App caters to shoppers in over 100 countries, enabling merchants to offer localized payment options to a diverse, international customer base and potentially opening up new markets and revenue streams. The Embedded Shopify App is now available to Shopify merchants worldwide. To learn more about how Splitit is innovating in the word of installment payments, visit About Shopify Shopify (NYSE, TSX: SHOP) is the leading global commerce company that provides essential internet infrastructure for commerce, offering trusted tools to start, scale, market, and run a retail business of any size. Shopify makes commerce better for everyone with a platform and services that are engineered for speed, customization, reliability, and security, while delivering a better shopping experience for consumers online, in store and everywhere in between. Shopify powers millions of businesses in more than 175 countries and is trusted by brands such as Mattel, Gymshark, Heinz, FTD, Netflix, Kylie Cosmetics, SKIMS, Supreme, and many more. For more information, visit About Splitit Splitit is a global payment solution provider that lets shoppers use the credit they've earned by breaking up purchases into monthly installments using their existing credit card. Splitit enables merchants to improve conversion rates and increase average order value by giving customers an easy and fast way to pay for purchases over time. Splitit serves many of Internet Retailer's top 500 merchants and is accepted by more than 1,500 eCommerce merchants in over 30 countries and shoppers in over 100 countries. Splitit Media Contact: Berns Communications GroupDanielle Poggidpoggi@ View original content to download multimedia: SOURCE Splitit USA, Inc. Sign in to access your portfolio
Yahoo
25-03-2025
- Business
- Yahoo
Splitit Announces Embedded White-label Solution for Shopify Merchants
Splitit has announced the launch of the new Shopify app with fully embedded Splitit Card installments. The new app unlocks an all-in-one service for merchants, which includes credit card processing, and a one-click installment payment option for consumers. Ran Landau, chief technology officer of Splitit, said the 'Embedded Shopify App marks a transformative leap in the installment payment landscape.' He explained that by integrating Splitit into Shopify's checkout the 'friction typically associated with pay-over-time solutions, a key factor in cart abandonment' has been eliminated. More from WWD SpangleAI Secures $6M Seed Funding to Improve AI-powered Shopping Journeys Is AI the Key to Meeting Consumers in Discovery? EXCLUSIVE: Fashion Tech Lab Unveils Its 2025 Cohort For the shopper, Splitit's app being entirely embedded into the Shopify checkout will allow the consumer to choose between paying in full or in installments without any redirection or applications. The company said the integration's enhancement of the user experience is critical citing 22 percent of online shoppers who abandon the checkout process due to complexity or time. Built as a white-label solution, the app also allows merchants to control their unique brand identity and consumer relationships without third-party branding to ensure a consistent experience. 'This white-label approach empowers merchants to offer branded, one-click installment options while maintaining full control over their customer journey and data,' Landau said. 'For shoppers, it provides unparalleled convenience, allowing them to easily manage their finances without leaving the merchant's ecosystem. This innovation not only enhances the customer experience but also presents a significant opportunity for merchants to acquire and retain customers in an increasingly competitive e-commerce landscape.' The Embedded Shopify App is now available to Shopify merchants globally and caters to shoppers in more than 100 countries. Best of WWD Retailers Leverage First Insight for ESG Alignment What Steph Curry's Sneaker NFTs Can Teach Fashion Year in Review: Brands, Retailers Go Hyper-digital in a Challenging Landscape
