Splitit Payments Ltd. has partnered with Alipay to enable the ‘Pay After Delivery’ option for shoppers on AliExpress, Alibaba Group’s worldwide e-Commerce platform. Germany, France, and Spain will host the service’s initial launches.
Alipay is a partner in AliExpress’s global payment solutions. AliExpress customers can now pay using their current credit card after delivery, thanks to Splitit’s adaptable technology platform and Checkout.com’s payment-acquiring capabilities. With Splitit’s new instalment option, “Pay on Delivery,” customers can pay for their purchases after receiving them. The deal makes use of Splitit’s Instalments-as-a-Service technology to build a distinctive user experience that is integrated into the AliExpress checkout process.
The Pay After Delivery solution offered by Splitit enables customers to split their purchase amount into manageable payments, which are automatically deducted from their bank account or credit card on a schedule agreed upon at the time of purchase. This allows customers to make larger purchases than they may have been able to afford upfront, and also helps merchants increase sales by making their products and services more accessible to a wider range of consumers.
Nandan Sheth, CEO, Splitit, said, “Our work with Alipay is a testament to the flexibility of Splitit’s platform and the strength of our new partnership with Checkout.com. Together we are providing a valuable resource for sellers and shoppers by powering payment after delivery. We are thrilled to collaborate with two exemplary companies like Alipay and Checkout.com. I look forward to building on this initial launch by expanding into other markets in the future.”
The Merchant Funding Agreement is in full force for an indeterminate period, unless the agreement is terminated early due to a breach of contract or financial instability, in which case either party must give the other at least thirty days written notice of non-renewal. The impact of the transaction on the price or value of Splitit’s securities is not relevant to any other provisions of the agreement.
Due to the changeable nature of revenues, which depend on the amount of client purchases made utilizing Splitit’s services, the economic materiality of the agreement with Alipay is uncertain. However, Splitit anticipates that the likelihood of its brand and company growth may be materially impacted by the expansion of its partnership with Alipay.
The partnership between Splitit and Alipay is a natural fit, as both companies are committed to providing innovative solutions that make it easier for consumers and merchants to do business together. Alipay’s user base is expected to benefit greatly from the added flexibility and convenience of the Pay After Delivery solution, while merchants will be able to increase sales and reach new customers by offering this payment option.
“Splitit was able to provide a solution that addressed our needs to deliver a modern pay-after-delivery option for AliExpress consumers. Splitit’s white-label approach allows us to easily customize and integrate the service into our platform while delivering a positive experience for sellers and shoppers,” said Topp Gary Paul, European Commercial Director, AliExpress.