People who subscribe to Telispire’s mobile virtual operator network can now make installment payments thanks to a partnership between Telispire and buy now, pay later (BNPL) company Splitit.
“As one of the country’s largest technology providers and aggregators for MVNOs, Telispire offers a turn-key mobile telecom service for local and regional operators, utilities, co-ops and cable companies,” Splitit said in a news release Monday (Aug. 15). “The growth of 5G and the success of larger operators and cable operators venturing into the MVNO market is driving even greater competition for subscribers.”
Read more: Third Generation of BNPL Holds Potential to Reshape Entire Credit Industry
According to the release, Telispire has integrated Splitit’s Installments-as-a-Service platform into its technology stack and billing system, which means any Telispire MVNO can offer installments to their subscribers for devices and services.
“Our number one goal is our resellers’ success. Splitit’s white-label installments give us a valuable tool to offer our resellers that puts them on a more equal footing with larger competitors without having to manage the technical integration,” said Telispire COO Craig Andrew. “The growth of 5G has many looking to upgrade devices, giving MVNOs a simple option to offer subscribers a great way to pay over time without the complexity of traditional financing options.”
A subsidiary of the National Rural Telecommunications Cooperative, Telispire’s turnkey solution allows operators to enhance their brand by choosing relevant products and services, such as provisioning, billing, eCommerce, fulfillment and customer support.
PYMNTS spoke to Splitit CEO Nathan Sheth in March about the evolution of the BNPL sector. As inflation hit record highs this year, even consumers with higher incomes and access to revolving credits were seeking affordability tools.
As Sheth said, high-ticket items are an area where BNPL is pressing against boundaries, which is good for both customers and merchants.
“Higher tickets have been a bit more challenging for the pure plays,” Sheth said. “For us, it’s kind of our sweet spot. If you look at our average ticket, it’s almost $1,000. Some of the others are in the $200 range. We’re taking down the open to buy and unlocking that.”
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