Under the Standard Plan, the merchant will receive payment for the item in installments.
The merchant will receive the same amount every month until the full amount of the purchase has been paid off.
Credit Card Transactions
| 2 – 36 Instalments | 1.5% + $1.50 per instalment |
| Setup Fee | $ 0.00 |
| Monthly Service Fee | $ 0.00 |
Example
An item costs $300, to be paid in 3 installments of $100 each will be priced as follows:
|
First installment fee |
($100 x 1.5%) + (1 x $1,50) |
$3 |
|
Second installment fee |
($100 x 1.5%) + (1 x $1,50) |
$3 |
|
Third installment fee |
($100 x 1.5%) + (1 x $1,50) |
$3 |
| Total to be paid to Splitit | $9 |
Important Note
All Splitit fees are separate from, and in addition to, any fees charged by the merchant's acquirer and/or gateway.
Splitit eliminates credit risk and guarantees the full transaction amount.
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