BNPL Firm Splitit Names New Board Members, Execs

Buy now, pay later (BNPL) company Splitit has named a veteran of the payments industry, along with its CEO, to seats on its board, according to a Tuesday (July 19) press release.

Dan Charron, a 30-year industry veteran who most recently served as chairman of global business solutions for Fiserv, has been named to the Splitit board as an independent nonexecutive director, while CEO Nandan Sheth is joining as the managing director, the release stated.

Splitit Chair Dawn Robertson said in the release that Charron’s “extensive experience in merchant services, payments processing and technology will be very valuable in supporting Nandan and his team in executing on our growth strategy.”

She added that in his brief time as CEO, Sheth “has already made a considerable difference in re-setting the vision for our company while demonstrating the ability to drive meaningful partnerships and merchant relationships.”

Meanwhile, Splitit said in the release it recently named three new hires to executive positions. First is Colt McCutcheon, the company’s new chief revenue officer. He comes to Splitit from CardinalCommerce, a Visa company, where he oversaw global merchant sales.

Collin Flotta has joined Spliti as the head of product, coming off a stint as vice president of products at Fiserv with Carat. He took his position in March.

New Splitit Head of Operations George Danforth also joined the company in March after serving as head of emerging payments at Discover’s Pulse Network.

PYMNTS and Splitit collaborated on the June/July BNPL Tracker, which found — among other things — that 43% if Americans have used the payment method, up from 31% in 2021.

Read more: BNPL Finds Fans in Older, Financially Secure Consumers

BNPL is especially enticing for consumers who have less money in the bank, the study found, with many saying they prefer it to credit cards when they can’t pay for a purchase outright. That number was 47% of consumers overall, rising to 51% among women and 53% among people who earn less than $50,000 a year.