Global payment solutions provider Splitit Payments Limited (ASX:SPT) has signed an agreement with Google to empower Japanese customers, for the first time ever, to use instalment plans to make purchases from the Google Store in Japan.
Splitit CEO, Brad Paterson, said in the coming weeks, Japanese customers purchasing Google’s new 5G phone, the Pixel 5, or Nest devices from the Google Store, will be able to split their payments into equal monthly instalments.
This is one of the strongest case studies yet of our unique offering. We are working with Google in its effort to provide the best possible experience for its customers, and the seamless integration of Splitit into Google Store Japan means they never have to leave the platform,” Mr Paterson said.
According to Mr Paterson, Splitit is the only instalment provider to service the huge credit card industry, with 68% of adults in Japan holding a credit card, the highest in Asia.
He said Splitit does not issue new credit to consumers, but rather allows existing credit card holders to make higher value purchases more easily, without incurring additional costs or fees. We are excited to allow Google customers to use their existing credit to pay for their new Pixel 5, Nest or Chromecast products.”
The materiality of the agreement with Google in Japan is unknown due to the variable nature of revenues which are dependent on customer uptake of specific products.
“This partnership marks the next phase in our expansion into Asia as we continue to grow our footprint with our global platform,” Mr Paterson said.