PayItSimple USA Inc., a patented payment solution technology that enables merchants to offer their customers the ability to make purchases using interest-free monthly payments on their existing credit cards, announced today that it is changing its name to Splitit.
The name change is part of an updated Corporate Identity to better align the Company’s brand with its overall strategy and product offering. The change is effective immediately and will be implemented across the company's products through the end of 2015.
"The new name – Splitit – allows us to emphasize our business objective around changing the way consumers pay for goods and services, with the goal of improving business performance for all sizes of ecommerce and brick and mortar merchants," said Alon Feit, CEO and Co-Founder of PayItSimple. "As a company with its roots in financial technology, we are committed to providing a payment solution that meets the needs of all members of the credit card payment ecosystem.”
Splitit enables both ecommerce and brick and mortar merchants to offer interest-free monthly payments to their customers at the point of sale with no greater risk than with regular credit card transactions. Customers do not have to apply for a new credit line or qualify for a new credit card. Splitit works on their existing credit cards so customers also enjoy all of their regular credit card benefits such as points, cash-back and mileage. For merchants, having this additional payment option can mean increased conversion rates, higher average tickets, increased customer satisfaction and reduced barriers to purchase.