SYDNEY, Aug. 13, 2019 /PRNewswire/ -- Splitit Payments Ltd. (ASX: SPT), a leading global monthly installment payments solution business, today announced a partnership with Ableton AG, one of the world's leading providers of music software, to offer Splitit's monthly installment payment solution to its online consumers in the United States, with the rest of North and South America, Australia, and select European Union countries to follow.
Ableton's unique software and hardware products enable musicians, sound designers, and artists across the world to create, produce, and perform music. Headquartered in Berlin, Germany, Ableton is a global business with particularly strong consumer traction in the United States.
Under the partnership, Splitit will earn merchant fees for each consumer transaction that passes through its solution. There are no contractual minimum volumes.
Commenting on the new partnership, Gil Don, Splitit's CEO and Co-Founder said, "Ableton is considered the best music software in the industry and has a dedicated following of music makers across the world. We are excited to be offering its community of musicians a new way to make their purchases via interest and fee-free installment payments."
Splitit enables merchants to provide customers around the world an easy way to pay for purchases in monthly installments with instant approval, thereby decreasing cart abandonment rates and increasing revenue. Splitit's innovative omnichannel technology can be implemented swiftly, within days, making it an appealing solution for global businesses. For consumers, it requires no credit check, application, or registration, resulting in a faster, more efficient transaction in-store, online, or via mobile device.
Splitit is the only global payment method enabling customers to pay for purchases with an existing debit or credit card by splitting the cost into interest and fee-free monthly payments, without the need for additional registration or application. Splitit enables merchants to offer their customers an easy way to pay for purchases in monthly installments with instant approval, decreasing cart abandonment rates and increasing revenue. Splitit's global footprint extends to over 500 merchants in 27 countries around the world. Headquartered in New York, Splitit has an R&D center in Israel and offices in London, Sydney, and Melbourne.
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SOURCE Splitit Payments Ltd.