Splitit is a player in the buy-now-pay-later (BNPL) arena enabling online merchants to offer interest-free monthly installment payments to their customers at the point of sale.

Customers do not have to apply for a new credit line or qualify for a new credit card. Splitit works on their existing credit cards so customers also enjoy all of their regular credit card benefits such as points, cash-back, and mileage.

For businesses, having this additional payment option can mean increased conversion rates, higher average tickets, increased customer satisfaction, and reduced barriers to purchase.

Serving many of Internet Retailer’s top 500 merchants, Splitit’s global footprint extends to hundreds of merchants in 27 countries. Headquartered in New York, Splitit has an R&D center in Israel and offices in London, with plans to establish itself in Australia for its expansion into the Asia-Pacific region.

The company was founded in 2012 by Alon Feit and Gil Don.