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Magento partners with Splitit to offer merchants monthly payment options
E-commerce giant Magento has announced a partnership with Splitit, a payment portal that offers the option of recurring monthly payments.
The partnership gives online retailers the option to provide their customer’s with a monthly payment option, the perfect solution for businesses who have regular customers and those offering a monthly sign up option to their services.
What is Splitit?
Splitit is a credit-based system that enables merchants to add a monthly payment plan directly at the checkout point.
The payment portal uses Visa and MasterCard credit cards and offers customers all of the usual credit card advantages including cash-back and mileage without filling any application or credit check.
The system has released information that states an increase of 20% in sales within the first two months of installing, merchants also benefit from better cash flow due to the reliable monthly payments.
Magento have also stated on their website that by using the Splitit system retailers can make the most of increased conversion rates, higher average orders and increased customer satisfaction.
Magento senior vice president of strategy and growth Mark Lenhard said of the partnership:
“Our partnership with Splitit significantly changes how merchants have traditionally offered installment payments and financing.
“Offering a pay over-time solution is very important to many of our merchants, the addition of Splitit’s simplified existing credit card monthly payment system gives our merchant’s such a solution without the need for the customer to apply for additional credit significantly increasing customer satisfaction.”
Interested in finding out more about Magento payment systems?
If you are interested in finding out more about the different Magento payment options that are available, our team will be able to help.
We have experienced Magento developers working directly from our offices, helping to create beautifully designed and coded websites on behalf of digital agencies throughout the UK.
We are a white-label development agency, so we work exclusively with creative and digital agencies on an NDA basis, so we act as part of their company and help them to provide high quality websites to their clients.
Due to our extensive knowledge in Magento we are able to provide a whole host of payment solutions to suit your client’s needs, some businesses will require an extensive solution such as Splitit whereas others will be able to use a well-known option such as PayPal.
We discuss these factors with our clients throughout the project, so they are able to keep their client in the loop and keeping them under the impression that all of the development work is being carried out inhouse.
For more information on the white-label Magento development services that we offer contact our team on 01257 758 078.