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Highnote Partners with Splitit to Enable Digital Wallet Installment Payments
Slice of Finance Team
19 Mar
Key Highlights:
Highnote and Splitit partner to introduce installment payments via digital wallets.
Tokenized virtual cards facilitate real-time merchant payments.
Consumers can split payments using their existing credit without new credit checks.
On-demand funding and collaborative authorization enhance the user experience.
A seamless pay-later option is now available at the point of sale.
Source: Business Wire
Notable Quotes:
"After an extensive review of the available solutions, it is clear that Highnote’s platform offers the flexibility, scalability, and security we need to enhance our payment offerings. This partnership allows us to offer shoppers a seamless and efficient way to make payments over time, directly within their digital wallets or at merchant checkout, further simplifying the shopper journey."
"We’re thrilled to collaborate with Splitit to introduce an optimal, card-linked installment solution for digital wallets. This partnership reflects our mission to help pioneering market leaders like Splitit by providing flexible, modern payment solutions that enhance the consumer experience and drive the future of payments."
Why This Matters:
This partnership between Highnote and Splitit represents a significant advancement in the payment space by integrating installment payment options directly into digital wallets. By leveraging Highnote’s tokenized virtual card technology, Splitit is now able to offer a frictionless, consumer-friendly installment plan that works with existing credit cards—eliminating the need for additional credit checks. This innovation simplifies the checkout experience for consumers and enhances flexibility for merchants, reshaping the future of digital transactions.