Add Interest-free Monthly Payments as an additional payment method to your checkout process.
OverviewBack to top
Splitit’s patented technology, created for Magento 2.0, is revolutionizing the retail world by enabling seamless installment payments for businesses of all sizes and type. With this payment method, ecommerce merchants can add an additional payment option to their checkout process that can decrease cart abandonment rates and increase ticket sizes. The Magento 2.0 Splitit extension allows you to promote your products with the number of installments pre-calculated and featured in various locations throughout the site including your homepage, your product page and your cart.
Splitit was carefully designed to meet all Magento best development practices and is compatible with all other extensions. Splitit integrates with all major credit card processors and gateways around the world, and is PCI DSS compliant. Thus, businesses worldwide can offer Splitit installment plans to consumers from any country.
Account & Pricing
In order to use Splitit services it is first required to sign up with us. While the extension is free, our service requires fees – you can review our fees when you fill out our application form - after you enter your merchant’s country.
- You have the option to promote your products with the number of installments pre-calculated under the product price.
- A Splitit button is added to your website for fast and easy checkout.
- At checkout, the shopper has the option to choose "Splitit Monthly Payments" as one of their payment methods. After the shopper chooses Splitit, the Splitit payment form appears and the shopper enters his credit card information and his desired number of installments. PCI regulated data is entered directly in the Splitit hosted payment form reducing merchant's PCI requirements.
- Splitit provides you with an additional POS for offline and phone orders.
- No Application, Registration or Credit Check is required to use to Splitit Installment Solution.
- Our solution promotes growth for ecommerce as well as in-store retail, and includes e-Wallet capabilities.
- Unlike consumer financing solutions, the core of Splitit is the ability to optimize a card holder’s unused credit line as security for an installment plan.
- The merchant does not assume any greater risk than they have with a regular card transaction, and the consumer can easily charge any purchase on their existing credit card and pay it back in monthly interest free installments.
- By offering customers affordable monthly payment options that fit any budget, you instantly increase their purchasing power
- Splitit patented solution works just like a regular credit card transaction and operates on your current payment gateway.
PCI / Security Features
- Our security solution depends on the method client chooses, to implement.
- For Splitit embedded solution – Clients need to be PCI certified, as card data passes through their server.
- For hosted solution (Redirect to Splitit checkout page) clients do not need to be concerned about PCI, as card is entered on Splitit site, which is a validated Level 1 PCI DSS Compliant Service Provider.
- Feature of Level 1 PCI DSS implemented are such as –
- Data Encryption Keys (DEKs) and Key Encryption Keys (KEKs) are encrypted with AES256 algorithm and Master Key is encrypted with RSA1024 algorithm.
- 128-bit Secure Sockets Layer (SSL)
- Implement WAF (Web Application Firewall) to protect against threads.
- Use File integrity products to detect malicious file access.
- Use intrusion detection systems.
- Monitor and analyze security alerts and information.
- Incorporate two-factor authentication for remote access.
- Deploy anti-virus software on all systems commonly affected by malicious software.
- Limit access to system components and cardholder data only to those individuals whose job requires such access
Release NotesBack to top
- Compatible with CE: 2.0 2.1 2.2
- Stability: Stable Build
Splitit – Interest-Free Monthly Payments extension
Why pay for a plugin that enables layaway payment options when you can use our free Magento extension to offer an interest-free installment plan instead? You have the option to receive the full amount up front, and the Splitit add-on handles the rest.
- The Splitit Installment Payment Solution for Magento allows ecommerce merchants to add partial payments as an additional payment method to their checkout process.
- Unlike other payment solutions, your customer does not need to complete a credit application – there is no credit check, and you don’t have to issue a line of credit.
- The customer can pay for just part of their order up front and select a time period for remaining installments.
- Splitit charges the first installment and automatically authorizes the remaining balance. You have the option to get your money right away for a small transaction fee, while Splitit automatically charges their card on a monthly basis until the purchase is paid off.
- You can receive your money each month for a smaller fee. Unlike a typical recurring payments extension, you do not have to wait to get paid in full while you sell products in installments. Sell more without having to offer coupons or discounts on every transaction.