Samsung Wallet integrates split payment with Splitit

The technology giant Samsung has signed a new partnership with an American split payment actor Splitit. Their rapprochement concerns in particular the US market and the integration of the BNPL solution Split in the Samsung Wallet. The objective of the two new partners is to offer an additional in-store payment solution.

FACTS

• Splitit has therefore chosen to work with Samsung to integrate its phased payment solution into the Samsung Wallet, allowing its users to pay in store in several times.

• Consumers at some U.S. outlets will be able to access Splitit's phased payment platform without leaving the Samsung Wallet ecosystem.

• In terms of customer journeys, consumers will simply have to link a Mastercard or Visa credit card eligible to their Splitit account and Samsung Wallet. They will then be able to click on Splitit's BNPL option when making their purchase to choose a payment method in several times among the options offered.

• Deployed from 25 July, the service will be available in all US states by the end of 2025.

ISSUES

• Building on partnerships : This is not the first time Splitit has relied on a partnership to ensure the deployment of its offer. In 2019 already, the American actor Stroke on its association with GHL ePayments, one of the main payment service providers and buyers in Southeast Asia, in order to extend its split payment solution to this market. In 2023, Splitit announced suddenly sound approximation with Worldline then Alipay to pursue its ambitions.

• Targeting a large market In the announcement of their partnership, Splitit and Samsung specify that they want to target a $5 billion point-of-sale market for split payments, the Samsung Wallet being accepted as a means of payment from more than 95% of U.S. point-of-sale traders.

• Sign first : The two new partners state that the integration of Splitit marks the first time that a phased payment solution is integrated directly into Samsung Wallet.

PERSPECTIVE

• Last June it was the Swedish BNPL giant Klarna who announced the availability of its services via Google Pay in the United States. This was achieved after the approximation of the two players, giants of their respective market, last November, as well as in the strategic continuity of Klarna with regard to the strengthening of its positions on American territory.

• Splitit's announcement also highlights the new strategic focus taken by BNPL players to expand their solutions, and now relies on partnerships signed with Wallets.

• This trend will certainly also be borne out by the context the current regulatory and legislative benefits for the players of the BNPL in the United States.

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