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Merchants

About Splitit

Splitit is a global payment solution enabling shoppers to pay for purchases with an existing debit or credit card by splitting the cost into interest-free monthly payments.

Credit Card:
Splitit requests authorization from the shopper’s card company, reserving the total purchase amount from the shopper’s available line of credit. Then, each month, according to the shopper’s payment plan, the installment amount is collected and Splitit requests authorization for the remaining balance.
Here is an example of how the service works for a customer buying a TV totaling $1,000 in 5 installments of $200 each:
1. Splitit obtains authorization from the credit card company for the full purchase amount of $1,000. This is not a charge on the card; it is simply reserving $1,000 from the shopper’s line of credit.
2. The credit card company then charges the shopper $200 for the first payment.
3. During the second month, Splitit requests authorization for the outstanding purchase amount of $800, and charges the shopper the second installment of $200.
4. This authorization and charge process continues until the full $1000 is collected–in this case, for 5 months.

Debit Card:
Splitit requests authorization from the shopper’s card company, reserving the total purchase amount from the shopper’s available line of credit. At the time of purchase, you will only be charged for the first payment, but the entire amount will be held on your debit card as a temporary hold, and released within 5 business days.
Here is an example of how the service works for a customer buying a pair of shoes totaling $300 in 3 installments of $100 each.
1. Splitit obtains authorization from the credit card company for the full purchase amount of $300. This is not a charge on the card; it is simply reserving $300 from the shopper’s line of credit and will be released within 5 business days.
2. The credit card company charges the shopper $100 for the first payment.
3. During the second and third month the shopper is charged an additional $100 until the payment plan is complete.

Splitit is supported by Visa, Mastercard, and UnionPay.
*Some merchants will only accept credit cards and not debit cards.

Splitit Logistics

You receive funds from your payment processor according to your agreement with them.

Go into the merchant portal and locate the specific plan. Then proceed to cancel it. During this process you will receive the following options; refund the last installment or refund all installments that were captured within the last 120 days. After choosing the correct refund option, the installment will be refunded and the remaining installments will be canceled.

Whenever Splitit is informed by a merchant that a chargeback has occurred, we will provide all of the necessary transaction details to help resolve it.

Splitit provides a reconciliation report in the merchant portal which can be customized to your specific requests and needs.

When a shopper signs up for a payment plan with Splitit, he/she provides an email address to receive regular communication from Splitit. The customer receives secure login information to review their account, including installment transaction activity and other Splitit payment plan data.

As a merchant, you can customize the minimum and maximum charge amounts (total ticket value) and the minimum and maximum number of monthly installments in accordance with Splitit policy.

Every deposit made into your merchant account by your acquirer/payment processor is itemized with your Splitit merchant number and has a unique transaction number for tracking purposes. This can be monitored through your merchant portal.

Splitit manages and monitors all merchant installment transactions and authorizations. You have web-based access and 24/7 support for your account and payment activity.

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For more details on how to use the portal, click here.

Integration

Integrating the Splitit platform into an e-commerce site is simple and quick. We offer the following different free integration tools:
1. Standard Web API: With our API, you can connect to Splitit and maintain your website marketing by designing the user interface as you wish.
2. Embedded Code: Through our live button embedded code, you are able to connect to Splitit without having to change anything in your website; the embedded code will seamlessly add our button to your checkout page. You will use our checkout form and you don’t have to worry about PCI compliance or additional website development.
3. Plug-in with leading e-commerce platforms: Magento, Shopify, WooCommerce, PrestaShop, SalesForce Commerce Cloud and more.

Implementing Splitit

We would love to connect and hear more about your business. Please click the ‘request a demo’ button at the top of the page and we will be in touch soon.

The merchant manual can be accessed in the merchant portal.

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