Mastercard has partnered with Splitit Payments Ltd., a New York City-headquartered provider of installment payment solutions.
Under the terms of the partnership, Mastercard will accelerate its use of Splitit”™s installment products around the world. The companies will also jointly develop installment and related products, with Mastercard”™s Payment Gateway Services and Application Programming Interface technology being adapted to accommodate Splitit”™s installment technology, according to a statement.
“This partnership with Splitit will help to drive higher transaction volumes for businesses and deliver budgeting solutions in the moment consumers are seeking them,” Zahir Khoja, executive vice president of global merchant solutions and partnerships at Purchase-based Mastercard, said in a press release.
“We are very excited to be partnering with Mastercard who share our strong commitment to accelerating the adoption of installment payments globally,” said Brad Paterson, CEO of Splitit.
