Splitit World Mastercard Offers White-Label Instalment Card to Banks
Splitit has announced a partnership with Mastercard to offer a white-label instalment credit card aimed specifically at mid-sized banks and credit unions. This new product is expected to launch in early 2027, providing these institutions with an opportunity to enhance their card offerings by incorporating payment flexibility for consumers.
By leveraging Splitit's technology, banks will be able to brand the instalment card to their specifications, allowing them to remain competitive in the evolving payments landscape where BNPL options are increasingly popular. This move could potentially attract new customers and retain existing ones looking for flexible payment solutions.
Key takeaways
- ▸Splitit partners with Mastercard for a branded instalment card.
- ▸Target audience includes mid-sized banks and credit unions.
- ▸Product is set to launch in early 2027, offering payment flexibility.
- ▸White-label offering allows banks to customize branding.
- ▸Heightened competition in the BNPL space for financial institutions.
Why this matters
This collaboration positions Splitit and Mastercard to tap into the growing demand for flexible payment options, particularly in the BNPL sector. Mid-sized banks and credit unions can differentiate themselves by offering tailored credit solutions, which may lead to increased customer loyalty and market share. However, larger banks that already have robust BNPL offerings might feel the competitive pressure as more institutions adopt similar strategies.