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Shoppers

About Splitit

Splitit is a global payment solution enabling shoppers to pay for purchases with an existing 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.

*Some merchants will only accept credit cards and not debit cards.

Splitit requires no application or registration. There is an instant approval by using the shoppers existing credit card level.

You will not be charged interest and there are no hidden fees.

Splitit is supported by Visa, Mastercard, and UnionPay.

Payments

Each month, your credit card statement displays the installment charge amount for that month, along with the merchant name. You will also see the authorization/hold for the outstanding amount dropping by one installment, every month. In addition, Splitit will email you after each successful installment charge.

When you make a purchase using Splitit, you will be asked to provide your email. Splitit sends you credentials so you can log in to the Splitit consumer portal to check your installment status and view other information regarding your purchase. The portal can also be found in the footer of the website.

Yes, you can. This option is available on your Splitit consumer portal or you can contact our customer care at support@splitit.com.

Credit Card

Nothing. If you use a Splitit installment plan there is no impact on your credit score. The bank simply sees the individual installment charges each month. If one of your payment authorizations is declined, there is still no effect on your credit rating; it is simply a declined charge.

Splitit allows you to use credit cards which expire in the middle of the installment plan. One month before the credit card expiration, Splitit will notify you via email and give you the option to switch the payments to your new card. You can switch credit cards directly via the Splitit consumer portal or you can contact our customer care team directly.

If something happens to your credit card, please do the following:
1. Contact your card company to report the card lost.
2. Visit the Splitit portal and update your payment plan with another credit card. Go to the “payment plan information” tab, select your payment plan and click “update card details.” Enter the new credit card details and click “confirm.”
3. If you are having any trouble, please email support@splitit.com.

Shoppers can still enjoy their credit card benefits such as air miles or points when using Splitit.

My account

In order to log into your Splitit account, you must use the credentials that were emailed to you after your purchase. The log in portal can also be found in the footer of the website.

To retrieve a new password, login to the shopper portal and click on “forgot password”. Enter your email address and Splitit will email you a temporary password and instructions to follow for resetting your password.

Feel free to email us at support@splitit.com and we will get back to you ASAP.

The user manual can be accessed in the consumer portal.

Safety

Yes. Splitit is providing a secure platform that adheres to all PCI DSS requirements. More information about our PCI certification can be found at https://www.splitit.com/pci/.

Yes. Splitit complies with Visa, Mastercard, and UnionPay operating standards. We are PCI – DSS level 1 compliant and we use communication security technology (single-socket layer/ SSL) to keep the information safe.

Splitit uses valid authorizations from the credit card issuer just like a standard credit card purchase. By implementing the Splitit solution, you can offer your customers a new, secure payment solution.

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