Splitit has partnered with Magento as a Select Technology partner to offer their solutions to the Magento ecosystem. Merchants using Magento will now be able to seamlessly integrate Splitit’s payment tool into their checkout process.
Splitit enables retailers to instantly offer monthly payment plans to their customers directly at checkout. Splitit works on existing Visa and MasterCard credit cards so customers enjoy all of their regular credit card benefits such as points, cash-back and mileage without filling any application or credit check.
Retailers enjoy increased conversion rates, higher average order values, decreased cart abandonment, and increased customer satisfaction without any greater risk than they have with regular credit card transactions.
Merchants using Splitit report an average increase of 20% in overall sales within the first two months of implementation and consumers enjoy better cash flow management and an increase in purchasing power.
“Since first offering Splitit to customers, GlassesUSA.com has seen a 12% increase in high order value sales. Additionally, check out abandonment rate has decreased by more than 10%,” said Daniel Rothman, CEO of GlassesUSA.com (Based on Magento platform).
Splitit extends to all sizes of merchants/retailers the ability to offer interest-free monthly payments on their customer’s existing credit cards. The Splitit product has been patent protected in the United States since 2012.