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Splitit Endorses Google's Universal Commerce Protocol (UCP)

In a noteworthy development for the realm of digital commerce, Splitit has thrown its weight behind Google's Universal Commerce Protocol (UCP). This innovative open standard aims to pave the way for agentic commerce, which involves AI agents making purchases on behalf of consumers. Scheduled for deployment across significant retail platforms like Shopify, Walmart, and Wayfair, UCP is structured to streamline the entire shopping experience, from the initial discovery phase to checkout and post-purchase services.

Strategic Partnership

Splitit, recognized as a leader in card-linked installment payment solutions, considers this partnership with Google an essential leap forward. By integrating UCP, Splitit will allow AI agents to offer card-linked installment options, enhancing the purchasing process for consumers and enabling seamless transitions from product recommendations to finalized purchases. James Wray, Splitit's Head of Business Development, emphasizes that with the growing influence of AI in retail, it is vital to offer solutions that provide assurance and ease in payment processes.

The Importance of Payment Flexibility

As an increasing number of consumers gravitate towards AI-driven shopping experiences, the necessity for flexible payment methods has become undeniable. Splitit's card-linked installments eliminate uncertainties associated with payment approvals, thereby converting indecisive browsers into actual buyers. In an age where budget constraints frequently hinder consumer spending, this type of flexibility is becoming crucial for merchants eager to maintain a competitive edge in the retail sector.

"Payment flexibility is quickly becoming a core consideration in AI-powered commerce," Wray notes. Supporting UCP allows merchants to capture sales that might otherwise be forfeited while also retaining valuable customer data and relationships.

Industry Commitment

With endorsements from numerous industry leaders, including Target and Etsy, the support for UCP indicates a united commitment to creating a consumer-focused shopping environment. Ashish Gupta, Google’s VP/GM of Merchant Shopping, expressed gratitude for partners like Splitit, whose involvement reflects the industry's aspiration to enhance consumer choice and merchant success in the burgeoning landscape of agentic commerce.

What Lies Ahead

As the retail world evolves, Splitit is positioning itself at the forefront of the upcoming transformations in commerce. Collaborating with Google and other major players, Splitit aims to develop an advanced payment infrastructure that will define future shopping experiences.

To learn more about how agentic commerce is reshaping buying behaviors and how installments can enhance the shopping experience, check out Splitit's recent blog post titled "Agentic Commerce Is Here, and Installments Are Already Changing How Shoppers Buy."

About Splitit

Splitit stands as the only global installment payments platform that allows consumers to leverage the credit they already possess. By transforming card-linked transactions into manageable installment plans, Splitit facilitates a straightforward and transparent payment process over time while ensuring merchants receive full payment upfront. This dual advantage enhances order values and conversion rates for merchants, boosts card engagement for issuers, and fosters customer loyalty without the risks associated with third-party brand redirects. Splitit’s services are trusted by prominent brands in luxury retail, technology, and numerous other sectors across over 100 countries. Notably, it enables embedded installments within the Samsung Wallet for a smooth in-store payment experience globally. For further details, visit Splitit.com.