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Pay With Split


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We are familiar with the concept of instalment, in which you buy something and pay the bill in small portions throughout a fixed period of time. However, a credit card is often required in making instalment payment. Sometimes, you may have to pay extra interest for instalment payments if the item you purchased is not from your bank’s partnered merchants.

Pay With Split appears as a solution that enables online shoppers to enjoy interest-free instalment payments at their partnering online stores.

Here’s How Pay With Split (Split) Works

At the checkout, customers can choose to pay with Split;

- Split pays the full amount to the store;
- The customer pays Split back in up to 3 monthly instalments using any debit or credit card from any bank.
- Split’s instalments are automatically deducted every month like Spotify or Netflix subscriptions.

Users also receive reminders via email and phone to ensure that they have enough funds in their selected payment method before their instalment due dates.

So, partner stores will get full upfront payments by Split.

When we ask Dylan, the co-founder and CEO of Pay With Split why he started this business, he shared, “It all started when I offered up my credit card details on Twitter back in 2018.”

During May 2018, Malaysians who lived abroad were rushing to come home for the general elections. Flights were expensive and many (especially students) were struggling to afford them. Dylan disclosed his personal credit card details and told them to purchase flight tickets with his card and they could pay him back over three months.

Surprisingly, all of them actually paid him back.

That was all the market validation Dylan and his business partner, Vish needed to start Pay With Split.

Split started as a fintech platform where users could book their flights upfront, and pay them back in instalments. Fast forward to December 2019, numerous online travel aggregators were offering Split as a payment method to their customers. They even had global investors giving them money to scale the company.

Then, the pandemic struck. Their rapid growth was halted by the pandemic when travel was essentially banned worldwide.

Just when they felt despair, they noticed that because of the lockdowns, Malaysians were spending on stuff they could buy online to use at home.

Hence, they hacked out a version of Split in one week that could work on most e-commerce websites.

Dylan reached out to a childhood friend in Penang who owns a fitness apparel brand and persuaded him to try Split out.

Though sceptical at first, he still remains one of their merchants today.

Currently, there are more than 600 merchants partnered with Pay With Split, including Dyson, Switch, Lego, Machines.

Unlike banks that usually require lots of paperwork when a person applies for a loan, Split has a software that can predict how likely it is for someone to pay them back on time. This is based on repayment data they’ve collected from their partnered merchants, their own platform, and third parties.

According to Dylan, locally, we have a few other fintech companies with the buy now, pay later model, where instalment payments are made by accessing their app. Split differs itself by being channel-agnostic, meaning that their payment method works beyond e-commerce platforms. Split also works on social media, chat apps, live streams, and email, where many Malaysians run their businesses.

The team expects to see a bigger growth over the next coming months as Malaysians are still encouraged to stay home and do most of their shopping online.

Pay With Split has joined ZOM-IN.com to collaborate in efforts to empower aspiring youths. Join us now at www.zom-in.com to participate in exciting events coming soon!


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