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Citcon and Splitit: A Game-Changing Partnership

In a significant move poised to transform how consumers interact with payment systems, Citcon has announced a strategic partnership with Splitit, a leader in embedded credit card-linked installment solutions. This collaboration will introduce a flexible payment model that caters to the evolving needs of both consumers and merchants worldwide.

Seamless Integration for Leading Merchants

Citcon is known for its extensive network within the retail and hospitality sectors, collaborating with major brands to facilitate transactions more efficiently. With integration capabilities across over 50 top POS systems and gateways, including industry heavyweights like Oracle and Shopify, Citcon's platform is well-equipped to support merchants wanting to enhance payment options.

By leveraging Splitit’s innovative technology, Citcon's merchants will gain access to one-click credit card-linked installments for their customers. This feature enables consumers to break down their purchases into manageable monthly payments without the need for credit approvals, enhancing accessibility. Such functionality will be available both online and in-store, allowing for a seamless customer experience.

Bridging the Gap Between Commerce and Consumer Needs

The co-founders of both companies express excitement about the partnership’s potential. Wei Jiang, Co-Founder and President of Citcon, highlights that this collaboration aligns with merchants’ priorities regarding performance and trust. He notes, "Our merchants care deeply about performance and trust. Partnering with Splitit allows us to offer flexible omnichannel installments, bringing over 190 million US cardholders with available credit, driving new sales at high average-ticket merchants."

For both startups, the objective is straightforward: enhance conversion rates and reduce cart abandonment. Nandan Sheth, CEO of Splitit, emphasizes the importance of meeting consumer expectations in a fluid market scenario, stating, "This partnership creates a clear on-ramp into some of the world's most respected merchant ecosystems. Together, we're unlocking new paths to conversion by helping merchants meet their customers with flexibility—right at the moment of intent."

The Benefits Extend Beyond Convenience

The potential impact of this partnership goes beyond convenience. In a retail environment characterized by competitive pressures and ever-evolving consumer expectations, providing accessible payment solutions can differentiate brands in the marketplace. Studies suggest that offering flexible payment options, such as card-linked installments, can lead to higher sales conversions and customer satisfaction rates.

Furthermore, with financial literacy becoming increasingly important among consumers, there exists a fundamental shift where shoppers seek transparent, easy-to-understand financial tools. By allowing customers to leverage existing credit without the hurdles of applying for loans or undergoing credit checks, Citcon and Splitit are ensuring that their clients can make empowered purchasing decisions.

About Splitit and Citcon

Splitit is a prominent player in today's payment landscape, allowing consumers to utilize credit they have accrued on their cards to make purchases more manageable over time. With its acceptance by over 1,500 eCommerce merchants across more than 30 countries, Splitit has established itself as a vital resource for many of the top retailers in Internet retail.

Similarly, Citcon, founded in 2015, operates as a fintech platform that facilitates seamless transactions across multiple global markets. Support for over 100 mobile wallets and various local payment methods positions Citcon as a go-to solution for merchants looking to simplify their transaction processes. With deployments in over 30,000 locations, its reputation among leading brands like L'Oréal and Macy's secures its standing within the industry.

Conclusion

The partnership between Citcon and Splitit signals a new era of payment processing that is set to benefit merchants and consumers alike. As the retail landscape continues to shift towards more flexible and innovative solutions, collaborations like this will become increasingly essential. By addressing the nuanced needs of today's shoppers, Citcon and Splitit are poised to redefine the future of payments worldwide.