Splitit and APPS Partner to Enable Card-Based Installment Payments | CPT PPP Coverage

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Splitit and Atlantic-Pacific Processing Systems (APPS) have partnered to enable card-based installment payments.

With this collaboration, Splitit’s white-label service that allows installment payments using existing credit on a credit card will be embedded into APPS’ payment processing platforms, the companies said in a Tuesday (April 12) press release.

The new integrated solution will allow APPS independent sales organizations (ISOs) and independent software vendors (ISVs) to enable their customers to offer one-click installments at checkout, according to the release.

“Together, we can bring a new BNPL [buy now, pay later] program to market for any ISO or ISV to use with their existing acquiring program, expanding this underserved group of merchants’ ability to sell their products to customers who may be otherwise burdened by rising costs,” APPS Chief Innovation Officer Brent Gephart said in the release.

PYMNTS research has found that new solutions such as BNPL could help level the playing field when it comes to B2B payments, applying the same principles to the corporate sector that made it so popular for consumer transactions.

B2B BNPL offers businesses a much simpler method of making purchases rather than acquiring commercial loans from traditional vendors, and some card-based models even allow businesses to use their existing corporate cards when making purchases, according to “Is BNPL the Next Driver for B2B Growth?,” the March/April edition of the “Buy Now, Pay Later Tracker®,” a PYMNTS and Splitit collaboration.

In addition, BNPL allows the supplier to be paid in full upfront while simultaneously letting the purchaser spread out the payments into more affordable installments.

The partnership of Splitit and APPS also includes adding Splitit to APPS’ Olympus, a back-end authorization and settlement platform that will launch in the third quarter; including Splitit in APPS’ private branded enterprise and ISV platform; integrating Splitit into APPS’ integrations; and adding Splitit’s installments-as-a-service to APPS’ ERP and Accounting Integrations platform, according to the press release.

“We are delighted to partner with APPS to offer their leading brands, such as Quickbooks and Sage, Splitit’s best-in-class white-label experience,” Splitit CEO Nandan Sheth said in the release. “This partnership demonstrates the strength of Splitit’s distribution-led strategy as it serves ISVs in the automotive, healthcare, education and furniture industries.”