Ingenico and Splitit partner to bring white-label, buy now, pay later (BNPL) to physical checkout with just one touch

PARIS,Feb. 1,2023 --Ingenico,a global leader in payments acceptance solutions and Splitit,the only white-label,card-based installment platform using existing consumer credit,today announced a global strategic partnership to bring one-touch,no-interest,buy now,pay later capability to the physical checkout experience using PPaaS,Ingenico's innovative,cloud- based Payments-Platform-as-a-Service,and Splitit's Installments-as-a-Service solution.

According to Juniper Research's white paper 'Buy Now Pay Later: Reshaping the Payments Market' (August 2022)[1],"Buy now,pay later (BNPL) users will surpass 900 million globally by 2027 – an increase from 360 million in 2022. At the same time,75 percent of commerce is anticipated to remain in-store,highlighting a significant opportunity for retailers to offer customers a flexible installment option at the point of sale (POS)."

Traditional BNPL services have struggled to make headway at the point of sale. The substantial friction created by requiring shoppers to follow a multi-step process to register,apply for funding or log into a third-party service or app creates an out-of-brand experience leading to consumer frustration and abandoned sales.

The partnership between Ingenico and Splitit eliminates these barriers to deliver a global,one- touch,no-interestBNPLserviceembedded intothemerchant'sexistingPOSterminal.Theresultis an engaging omnichannel customer experience that helps merchants grow their business while driving loyalty and repeat purchases.

Ingenico'sPPaaSsolutionenables itsclients,suchasbanksandmerchant acquirers,toselect from a catalog of payments and value-added services without requiring lengthy and expensive software development. It also avoids the complexity associated with deployment across a variety of terminal brands.

Splitit's Installments-as-a-Service platform is a new way to drive BNPL through a white-label,merchant-branded experience embedded within a brand's existing checkout flow. Unlike legacy BNPL services that originate new loans,Splitit unlocks existing consumer credit on credit cards for 0% interest[2] installments. Any consumer with available credit on their credit card is automatically pre-qualifiedtouseSplitit forthevalueofthatavailablecredit.

There's no application,registration or redirects and no additional interest,hidden fees[3] or credit checks,making it the most seamless and frictionless BNPL checkout experience for consumers online and in-store.

Theglobal partnershiphasstronginitialinterest comingfromclients ofbothcompanies,particularly in the United States and Western Europe.

Colin Mellon,Chief Commercial Officer of Splitit,speaking of the partnership,said: "We are delighted to partner with one of the largest and most admired payment technology companies in the world. Together withIngenico,we candeliver aone-of-a-kindsolution totap into themassively underserviced in-store BNPLopportunity,whichissixorseventimesgreater thane-commerce alone. This partnership will transform BNPL at the point of sale,opening incredible new opportunities outside traditional retail. All industries – healthcare,home furnishings,home improvement and repairs,automotive and business services,to name a few – will benefit."

MichaelBalzer,HeadofSalesandStrategicPartnershipsatPPaaSforIngenico,added:"Splitit and PPaaS are natural partners. PPaaS is all about facilitating how people pay and what services they canaccess at the point of sale. Splitit isreinventing installment payments at the point of salein a waythatmakes iteasyformerchantstopropose this optionto its customers,andPPaaS can help them do this in a simple and effective way. Coming on the back of other partnerships we have recently announced,including Splitit in our portfolio of partners is a testament to how important we believe in-store,easy-to-use BNPL will be in the future."

As the global leader in payments acceptance solutions in-store,Ingenico is a trusted technology partner for 1,000+ banks,acquirers,ISVs,payment aggregators and fintechs and has some 40 millionPOSterminalsinservicearoundtheworld,servingretailersranging fromsmallmerchants to some of the best-known global brands.

ABOUTINGENICO

Ingenico is the global leader in payments acceptance solutions. As the trusted technology partner formerchants,banks,payment aggregatorsandfintech customersourworld-class terminals,solutions and services enable the global ecosystem of payments acceptance. With 45 years of experience,innovation is integral to Ingenico's approach and culture,inspiring our large and diverse community of experts who anticipate and help shape the evolution of commerce worldwide. At Ingenico,trust and sustainability are at the heart of everything we do.

Formoreinformation,visitIngenico.com.

ABOUTSPLITIT

Splitit powers the next generation of Buy Now,Pay Later (BNPL) through its merchant-branded Installments-as-a-Service platform. Splitit is solving the challenges businesses face with legacy BNPL while unlocking BNPL at the point of salefor card networks,issuers and acquirersall through a single network API. Splitit's Installments-as-a-Service platform mitigates issues with legacy BNPL like the declining conversion funnel,clutter at the checkout and a lack of control of the merchant's customer experience while putting the power back in the hands of merchants to nurture and retain customers,drive conversion and increase average order value. Splitit's white-label BNPL is the easiest installment option for merchants to adopt,integrate and operate while delivering an uncluttered,simplified experience embedded into their existing purchase flow. Headquartered in Atlanta,Splitit has an R&D center in Israel and offices in London and Australia. Splitit islistedonthe Australian Securities Exchange (ASX) under ticker code SPT and also trades on the US OTCQX under ticker SPTTY (ADRs) and STTTF (ordinary shares).

Formoreinformation,visitSplitit.com

[1] https://www.juniperresearch.com/whitepapers/bnpl-reshaping-the-payments-landscape

[2] No interest is payable to Splitit.Thecardholdermaybeliable topayinteresttotheissueroftheirpayment cardifthe installments are not paid in full by the due date.

[3] Credit card terms and conditions may apply.