PayItSimple USA Inc, a service that lets consumers simply and easily charge any purchase on their existing general purpose credit cards and pay it back in monthly, interest free installments, today announced their official launch in the United Kingdom.
In the UK, credit cards are one of the preeminent forms of payment for both brick & mortar and online goods and services. Credit cards offer convenience and security to consumers while providing merchants with payment warranty once the transaction is approved. It is estimated that in the UK alone, there are over 61 million credit cards being accepted by over 1 million merchants.
"We are very optimistic based on the take up of PayItSimple in the US," said Alon Feit, CEO and Co-Founder of PayItSimple. "We opted to accelerate our launch in the UK based on growing inquiries and demand for the service."
PayItSimple supports an omnichannel shopping experience and is available for ecommerce, brick and mortar, mobile wallet and all other payment platforms. The merchant benefits of offering PayItSimple include increased conversion rates, higher average ticket size, lower barriers to purchase and less dependency on sales or promotions, without any additional merchant risk than a regular credit card transaction. With easy access to interest-free installment payments, consumers now have a smarter way to buy the products and services they need and want, without the need to pay high interest rates, qualify for a new credit line, face long layaway delays or go through a lengthy credit application processes; PayItSimple provides consumers with greater financial freedom and empowers them to better manage their expenses.