Splitit has launched an Installments-as-a-Service integration with the SAP Commerce Cloud.
The Splitit Checkout Plugin joins other SAP-validated solutions on the available on the SAP Store online marketplace, Splitit said in a Thursday (March 23) press release.
“Our first white-label plug-in for SAP Commerce Cloud merchants provides a faster path to bringing our industry-leading Installments-as-a-Service to their customers,” Splitit Chief Technology Officer Ran Landau said in the release. “This is critical for enterprise merchants, especially those with complex workflows which need a simplified solution with minimal technical lift.”
Splitit’s Installments-as-a-Service product powers buy now, pay later (BNPL) offerings for enterprises that serve B2B, B2C and B2B2C markets, according to the press release.
PYMNTS research has found that B2B BNPL options, which apply many of the same principles of consumer BNPL to the corporate space, can simplify and accelerate B2B payments.
They can also help corporates cut costs, ease their accounting teams’ burdens, improve cash flow and boost the affordability of inventory — thus unlocking long-term growth for their business, according to “Is BNPL the Next Driver for B2B Growth?” report, a “Buy Now, Pay Later Tracker®” developed by PYMNTS in collaboration with Splitit.
On the consumer side, PYMNTS research has found that new payment options are becoming must-haves. For example, 56% of the consumers surveyed were highly interested in using BNPL options at luxury and specialty online stores, according to “BNPL and the In-Store Opportunity: Why Merchants Must Offer Payments Flexibility at the POS,” a PYMNTS and Zip collaboration.
Because Splitit offers a white-label solution, this product allows merchants to embed BNPL in their current checkout flow, choose from a range of installment options and add upstream messaging to their site — all while maintaining the look and feel of their brand and reducing the clutter and confusion that comes when there are multiple payment logos, the release said.
This new integration with the SAP Commerce Cloud joins Splitit’s existing integrations with Shopify, Magento, Salesforce Commerce Cloud, Wix, WooCommerce and BigCommerce, per the release.
“The Checkout Plugin simplifies the integration of Splitit for merchants while reducing integration investment costs,” Splitit said in the release.
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