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Splitit

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Last updated on

Company health

Employee growth
11% increase in the last year
Web traffic
12% decrease in the last quarter
Financing
February 2023 - $300M

Ratings

G2
4.4/5
(20)
Glassdoor
3.4/5
(25)

Splitit description

Splitit is a Buy Now Pay Later (BNPL) solution that lets customers pay for purchases in interest-free installments using their existing credit cards. Unlike other BNPL providers, Splitit doesn't require credit checks or involve third-party financing. Businesses can integrate Splitit's white-label solution into their online and physical stores, offering customers a flexible payment option without impacting their credit scores. Splitit aims to simplify the installment process, enhance customer experience, and drive sales conversions for businesses.


Who is Splitit best for

Splitit is a buy now, pay later solution enabling interest-free installments using existing credit cards. This eliminates credit checks and third-party financing, simplifying purchasing, especially for larger items. Users appreciate the ease of integration and increased purchasing power. Some have noted concerns about holds placed on credit card limits. Perfect for retailers aiming to boost sales and average order value.

  • Ideal for businesses of all sizes seeking a flexible payment solution.

  • Particularly suited for retail and e-commerce businesses.


Splitit features

Supported

Splitit lets customers use their existing credit cards for installment payments.

Supported

Splitit offers flexible installment plans tailored to customer needs.

Supported

Splitit provides interest-free installment payments.

Supported

Splitit doesn't require new credit applications or checks.

Supported

Splitit facilitates larger purchases by breaking them down into smaller installments.

Supported

Splitit's flexible payment option helps reduce cart abandonment.

Supported

Splitit contributes to higher AOV by making larger purchases accessible.

Qualities

We evaluate the sentiment that users express about non-functional aspects of the software

Value and Pricing Transparency

Neutral
+0.23

Customer Service

Neutral
+0.23

Ease of Use

Strongly positive
+0.73

Reliability and Performance

Rather positive
+0.33

Splitit reviews

We've summarised 60 Splitit reviews (Splitit TrustPilot reviews and Splitit G2 reviews) and summarised the main points below.

Pros of Splitit
  • Interest-free installments make larger purchases more manageable for customers.
  • No credit checks or applications are required, simplifying the payment process.
  • Easy integration with various e-commerce platforms allows businesses to offer a flexible payment option.
  • Increases average order value and conversion rates by offering installment options.
Cons of Splitit
  • Splitit places and maintains holds on the full purchase amount on customers' credit cards, potentially leading to credit limit issues and declined transactions.
  • Lack of clear communication about the hold process can cause confusion and frustration for customers.
  • Some users have reported difficulties reaching customer support for assistance with issues.
  • Limited integration with some payment gateways and e-commerce platforms.

Splitit pricing

The commentary is based on 15 reviews from Splitit G2 reviews and Splitit TrustPilot reviews.

Splitit offers interest-free installment payments using available credit, appealing to budget-conscious shoppers. However, some users have experienced issues with credit holds and authorization amounts, occasionally exceeding available credit and causing inconvenience.

Users sentiment

Neutral
+0.23

Splitit alternatives

  • Logo of TABBY
    TABBY
    Shop now, pay later. Bigger sales, happier shoppers.
    Read more
  • Logo of Sezzle
    Sezzle
    Shop now, pay later in four interest-free installments.
    Read more
  • Logo of Afterpay
    Afterpay
    Shop now, pay later. Four interest-free payments. Boosts sales.
    Read more
  • Logo of Wisetack
    Wisetack
    Pay-over-time options for services, so everyone wins.
    Read more
  • Logo of Bread Financial
    Bread Financial
    Simple, transparent installment payments for higher sales.
    Read more
  • Logo of PayBright
    PayBright
    Shop now, pay later, with easy installments at checkout.
    Read more

Splitit FAQ

  • What is Splitit and what does Splitit do?

    Splitit is a Buy Now, Pay Later (BNPL) platform enabling interest-free installment payments using existing credit cards. It increases purchasing power without credit checks or third-party financing. This flexible payment option reduces cart abandonment and boosts average order value for businesses.

  • How does Splitit integrate with other tools?

    Splitit integrates with various e-commerce platforms through its white-label solution, enabling businesses to seamlessly offer interest-free installment payments. However, some users have reported limited integration options with certain payment gateways and platforms.

  • What the main competitors of Splitit?

    Splitit's main competitors include other Buy Now Pay Later (BNPL) platforms like Afterpay, Sezzle, Zip, Klarna, and Affirm. These platforms offer similar installment-based payment options for online and in-store purchases. Some also offer interest-free installments but may have different credit check requirements.

  • Is Splitit legit?

    Yes, Splitit is a legitimate BNPL provider. It offers interest-free installment payments using existing credit cards, eliminating credit checks. However, be aware of potential credit limit holds. User reviews are positive overall, praising the ease of use and increased purchasing power.

  • How much does Splitit cost?

    I couldn't find pricing details for Splitit. For the most current pricing information, it's best to visit Splitit's website directly or contact their sales team. This will help you decide if Splitit is worth the investment for your needs.

  • Is Splitit customer service good?

    Splitit's customer service receives mixed reviews. While some users report smooth and efficient experiences, others express frustration with a lack of communication, difficulty reaching support, and unresolved issues. Several negative reviews mention pre-authorization holds causing credit limit problems.


Reviewed by

MK
Michal Kaczor
CEO at Gralio

Michal has worked at startups for many years and writes about topics relating to software selection and IT management. As a former consultant for Bain, a business advisory company, he also knows how to understand needs of any business and find solutions to its problems.

TT
Tymon Terlikiewicz
CTO at Gralio

Tymon is a seasoned CTO who loves finding the perfect tools for any task. He recently headed up the tech department at Batmaid, a well-known Swiss company, where he managed about 60 software purchases, including CX, HR, Payroll, Marketing automation and various developer tools.