- Alipay, a major provider in the Chinese sector, said that it would be partnering with Splitit, which is known for offering a buy now, pay later service.
- The two firms will also be working with Checkout.com and the collaboration marks a new move in the instalments-as-a-service part of the sector.
- "Splitit was able to provide a solution that addressed our needs to deliver a modern pay-after-delivery option for AliExpress consumers,” said an Alipay spokesperson in a press release.
Alipay, a provider of online money transfers in China, has confirmed that it will be partnering with firm Splitit, known for offering a buy now, pay later service.
The new service will give AliExpress, one of Alipay’s brands, the right to pay for goods purchased online after they have been delivered. A third firm, Checkout.com, is powering it.
The arrangement has been described as an "instalments as a service" option. This provides consumer credit via payment cards to boost customers' checking out process.
Customers who have balance on credit cards in their name can use the service without an application. They will also not have to pay interest.
The new arrangement is set to be launched in certain European countries first. These are thought to include Spain, France and Germany.
Nandan Sheth, CEO of Splitit, said “Our work with Alipay is a testament to the flexibility of Splitit's platform and the strength of our new partnership with Checkout.com. Together we are providing a valuable resource for sellers and shoppers by powering payment after delivery.’
He added that the two firms were pleased to be collaborating.
“We are thrilled to collaborate with two exemplary companies like Alipay and Checkout.com. I look forward to building on this initial launch by expanding into other markets in the future,” he explained.
Gary Topp, European Commercial Director for AliExpress, said that the company could provide a service that met their needs.
"Splitit was able to provide a solution that addressed our needs to deliver a modern pay-after-delivery option for AliExpress consumers,” He explained.
He added that the white labelling service provided by Splitit would lead to higher levels of bespoke service.
“Splitit's white-label approach allows us to easily customise and integrate the service into our platform while delivering a positive experience for sellers and shoppers," he said.
To learn more about the international money transfer world and how it can help you, head over to our money transfer reviews, where you can hear more about it.
