Splitit is a payment method solution enabling customers to pay for purchases with an existing credit card by splitting the cost into interest and fee free monthly payments, without additional registrations or applications.
Is there an application process for Splitit?
Since Splitit works on your existing credit limit, there are no applications when purchasing with Splitit. You can start shopping with a Splitit business today and choose Splitit at the checkout.
Which cards are supported by Splitit?
Splitit is supported by Visa and Mastercard. *Some merchants will only accept credit cards and not debit cards.
How do I track the installment payments on my card statement?
Each month, your credit card statement displays the installment charge amount for that month, along with the merchant name. You will also see the authorization/hold for the outstanding amount dropping by one installment, every month. In addition, Splitit will email you after each successful installment charge.
*Note that the held amount might show as ‘pending transaction’ on your credit card statement.
Can I pay off my installments early?
Yes, you can. This option is available on your Splitit shopper portal or you can contact our customer care at email@example.com.
What happens to my credit score if I use Splitit?
If you pay with a Splitit installment plan there is no impact on your credit score. The bank simply sees the individual installment charges each month. If one of your payment authorizations is declined, there is still no effect on your credit rating; it is simply a declined charge.
What if my card is going to expire in the middle of payments?
Splitit allows you to use credit cards which expire in the middle of the installment plan. One month before the credit card expiration, Splitit will notify you via email and give you the option to update your new card details. You can update your credit cards details via the Splitit shopper portal, or you can contact our customer care team directly.
Is Splitit a safe solution?
Yes. Splitit complies with Visa, Mastercard, and UnionPay operating standards. We are PCI – DSS level 1 compliant and we use communication security technology (single-socket layer/ SSL) to keep the information safe.
How does Splitit manage risk?
Splitit uses valid authorizations from the credit card issuer just like a standard credit card purchase. By implementing the Splitit solution, you can offer your customers a new, secure payment solution.