Merchants using Magento will now be able to integrate Splitit’s payment tool into their checkout process. The tool enables retailers to offer monthly payment plans to their customers directly at checkout. Because Splitit works on existing Visa and MasterCard credit cards, customers benefit from all of their regular credit card advantages such as points, cash-back and mileage without filling any application or credit check.
According to company statements, merchants using this payment tool report an average increase of 20% in overall sales within the first two months of implementation and consumers enjoy better cash flow management and an increase in purchasing power.
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