Splitit Launches In-store Capabilities

July 12, 2021  by Laurie Northington in Business Strategy, Industry   

By offering Splitit InStore, the company aims to better meet the needs of the retail sales associate to deliver the best possible customer experience. As retailers are also rethinking how to optimize brick-and-mortar, the extension of Splitit’s capabilities will appeal to consumers who have become accustomed to using flexible payment options online during the pandemic.

“Retailers are starting to see a consistent increase of in-store traffic as we slowly recover from the pandemic. As a result, providing an in-store solution was the number-one request from Splitit’s customers,” said Brad Paterson, chief executive officer of Splitit. “Splitit InStore answers this call and is just one way we continue to innovate to match this permanent change in shopper habits and preferences. Besides broadening our addressable market by accessing retailers with a brick-and-mortar store presence, this also opens Splitit to exciting new categories.”

With Splitit InStore, consumers are able to opt for the installment option without having to give sensitive personal information by choosing to use Splitit at the moment of purchase without the need for application or sign-up requirement. The service can be used on any internet-enabled device in-store including computers, tablets and smartphones and allows sales associates to extend the payment method on phone orders.

With Splitit’s installment plans ranging from six to 24 months, the company aims to be especially well suited to help consumers with larger purchases such as home furnishings, jewelry, luxury retail and sporting goods. Notably, similar to other buy now, pay later services, Splitit’s solution never charges the consumer fees or interest.

Coinciding with its launch, the company has announced several new brands signing on Splitit InStore including La-Z-Boy Furniture Galleries, Fabergé, Gem Shopping Network, KEF, PROCAM, LaserAway and Aftershock PC Australia.

“Online shopping has transformed the way we shop for furniture. But consumers still want to see, feel and experience our furniture firsthand,” said David Hilst, owner of five La-Z-Boy Furniture Galleries stores in Illinois and Indiana. “Splitit delivers a seamless in-store experience. We can meet the shopper in the store and offer an installment option instantly — it’s the best online experience in an offline environment. You don’t get this with other financing options.”