SYDNEY, Jan. 6, 2020 /PRNewswire/ -- Splitit, a leading global monthly installment payment solution, today announced that it has joined the Magento Technology Partner program. Magento, an Adobe company, is the leading provider of commerce innovation to merchants and brands across industries. Splitit joins a growing list of valuable technology vendors offering business-enhancing functionality for the Magento platform.
The Splitit extension for Magento Open Source and Magento Commerce enables merchants to offer their customers Splitit's installment payment solution for online purchases with an existing credit card, splitting the cost into interest and fee-free monthly payments. After downloading the extension, Magento merchants can easily go live with the Splitit payment method via a simple selection from a drop-down menu in the Magento admin.
"Magento has a strong and differentiated offering in the ecommerce marketplace and we're excited to join its Technology Partner program," said Brad Paterson, CEO at Splitit. "We look forward to offering our interest and fee-free installment payment solution to our joint merchants, helping to increase average order values while decreasing cart abandonment rates."
Magento boasts a strong portfolio of omnichannel solutions that empower its merchants to deliver on their experience-driven commerce vision. Magento was positioned as a Leader in the 2019 Gartner Magic Quadrant for Digital Commerce Platform for a third consecutive year. In addition, it is the #1 provider to the Internet Retailer Top 1000, the B2B 300 and the Top 500 Guides for Europe and Latin America.
Splitit is a payment method solution enabling consumers and businesses to pay for purchases with an existing credit card by splitting the cost into interest and fee-free monthly payments, without the need for additional registrations or applications. Splitit's consumer solutions enable 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 Business Payments allows manufacturers and suppliers to provide buyers with an interest-free, installment credit solution for purchasing goods and services utilizing their existing credit cards. Serving many of Internet Retailer's top 500 merchants, Splitit's global footprint extends to 27 countries around the world. Headquartered in New York, Splitit has an R&D center in Israel and offices in London and Australia.