Splitit unveils bank-branded instalment charge card

Splitit is launching a new white-label Mastercard that allows banks and credit unions to offer branded installment payments. For retailers, this represents a significant shift in how customers access Buy Now, Pay Later (BNPL) services. Instead of using a third-party app at checkout, your customers may soon use a charge card issued directly by their own bank that has installment features built in. This technology helps solve a major pain point for merchants: brand loyalty and friction. When a customer uses a bank-branded installment card, the transaction is more likely to be approved compared to standalone BNPL apps. It also utilizes the customer’s existing credit line rather than requiring a new hard credit check for every purchase. For operators, this means a smoother checkout experience and potentially higher average order values without the risk of steering customers toward a competing third-party ecosystem. As mid-sized banks and credit unions adopt this, expect to see more 'invisible' financing where the installment plan is managed on the back end of the consumer's preferred credit card.

Source: Finextra — Lending

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