AMSTERDAM, May 15, 2017 /PRNewswire/ --
Splitit, an interest-free credit card-based installments technology, announced that it was awarded the Red Herring award.
Red Herring Top 100 Europe enlists outstanding entrepreneurs and promising companies. It selects the award winners from approximately 1,200 privately financed companies each year in the European Region. Since 1996, Red Herring has kept tabs on these up-and-comers. Red Herring's Top 100 list has become a mark of distinction for identifying promising new companies and entrepreneurs.
"In 2017, selecting the top achievers was by no means a small feat," said Alex Vieux, publisher and CEO of Red Herring. "In fact, we had the toughest time in years because so many entrepreneurs had crossed significant milestones so early in the European tech ecosystem. But after much thought, rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across Europe to the Top 100 Winners. We believe Splitit embodies the vision, drive and innovation that define a successful entrepreneurial venture. Splitit should be proud of its accomplishment, as the competition was very strong."
Splitit enables retailers to instantly offer 0% interest 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. Businesses worldwide can offer Splitit installment plans to consumers from any country.
We are honored to be recognized by Red Herring as one of the Top 100 Europe outstanding entrepreneurs and promising companies," said Gil Don, CEO of Splitit. "Tapping into credit card purchasing power is a unique business opportunity for retailers to increase overall sales. Customers also benefit from Splitit, as they are able to pay on their existing credit cards, avoid undergoing a credit check, receive their usual credit card benefits and avoid high APRs and late fees associated with merchant financing."
Splitit is revolutionizing the credit card industry by extending 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.