Splitit Expands Partnership With AliExpress
Splitit, the buy now, pay later solution provider, is expanding its partnership with AliExpress to expand into the U.S. with its “pay after delivery” service.
The “pay after delivery” service by Splitit allows shoppers to start paying for their products after delivery is complete via a custom-branded experience embedded into the AliExpress checkout. Splitit’s technology will allow AliExpress shoppers to pay for their purchases with their existing credit cards.
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This follows a successful rollout in countries such as Germany, Spain, France, Italy, the Netherlands, the U.K. and Australia. In Spain and Germany, Splitit has implemented its payment solution of paying by installments using existing credit for customers to pay over three or six months for AliExpress.
“We are thrilled with the results seen from the rollout of our Pay After Delivery and installments service with AliExpress, whilst further strengthening our partnership with Checkout.com,” said Nandan Sheth, chief executive officer of Splitit. “The demand from shoppers has been very positive, proving there is demand for a modern, simple way to allow consumers to pay only after the product has been delivered, improving the customer experience and building merchant loyalty.”
This news also comes after Splitit’s recent announcement of a $50 million investment from private equity firm, Motive Partners. The buy now, pay later company is delisting from the Australian Securities Exchange to go private and re-domiciliating to the Cayman Islands.
Notably, the buy now, pay later market has grown exponentially, as economic challenges prevail and consumer behavior has shifted towards expecting more flexible payment options. A recent report by WWD found that the total number of shoppers using buy now, pay later will surpass 900 million globally by 2027.
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