Splitit Payments (ASX:SPT) has formed a partnership with third-party mobile and online payment platform Alipay to fuel the ‘pay after delivery’ for shoppers on AliExpress.
The company says ‘pay after delivery’ represents its new instalment service that allows consumers to pay for goods after delivery with their existing credit card, and will utilise its flexible technology platform in conjunction with Checkout.com’s payment-acquiring capabilities.
Adding on, the company says the agreement leverages its Instalments-as-a-service platform to create a custom-branded experience embedded in the AliExpress checkout flow.
It is reported the service will initially launch in Germany, Spain, and France, with plans to expand into other international markets.
Speaking on the partnership, Splitit Chief Executive Officer (CEO) Nandan Sheth said: “Our work with Alipay is a testament to the flexibility of Splitit’s platform and the strength of our new partnership with Checkout.com. Together we are providing a valuable resource for sellers and shoppers by powering payment after delivery. We are thrilled to collaborate with two exemplary companies like Alipay and Checkout.com. I look forward to building on this initial launch by expanding into other markets in the future.”
“Our work with Alipay is a testament to the flexibility of Splitit’s platform and the strength of our new partnership with Checkout.com”
AliExpress European Commercial Director Topp Gary Paul adds that Splitit delivered an answer to its needs to deliver a modern pay-after-delivery option.
“Splitit was able to provide a solution that addressed our needs to deliver a modern pay-after-delivery option for AliExpress consumers. Splitit’s white-label approach allows us to easel;y customise and integrate the service into our platform while delivering a positive experience for sellers and shoppers.”
The company also notes the Merchant Funding Agreement is expected to become effective immediately and will remain in full force for an indefinite period until either party gives written notice of non-renewal at least 30 days prior written notice or unless the agreement is terminated.
Splitit is an ASX-listed company that is powering the next generation of ‘Buy Now, Pay Later’ through its merchant-branded instalments-as-a-service platform. The company represents the only white-label service that allows its customers to pay by instalments using their existing credit on their payment card at checkout.