White-label pay-by-instalments service provider Splitit Payments [ASX:SPT] enters a new partnership with Alipay to form a new ‘Pay after delivery’ option for AliExpress from today.
The service is set to launch in Germany, France, and Spain, with the hope of including further international markets down the track.
SPT shareholders have increased the fintech’s value by a whopping 14% on the announcement.
For the new year, shares for the long-suffering fintech have risen by more than 28%.
Having said that, the fintech sector continues its overall struggle after 2022’s massive selldown.
Source: Tradingview.com
Splitit impresses investors with Alipay collaboration
Shareholders for the payment instalments service provider have been expressing their approval today. The tech company has announced it will be lending its capabilities to AliExpress to form a new ‘Pay after delivery’ service for credit card holders.
Splitit’s technology, combined with assistance from its existing partnership with cloud-based payments provider Checkout.com, will provide enhancements for AliExpress shoppers and enable merchants to provide further benefits to customers.
‘The agreement leverages Splitit’s Instalments-as-a-Service platform to create a custom-branded experience embedded in the AliExpress checkout flow,’ the company (SPT) stated.
Alipay is AliExpress’s global payment solution partner, part of a global e-commerce marketplace that is owned by the Alibaba Group.
Splitit clarified that there is no determined materiality relating to the agreement, with Alipay’s revenues being of variable nature and dependant on consumer cycles, however, it expects a positive impact on its brand, business, and development prospects overall.
Splitit CEO Nandan Sheth said:
‘Our work with Alipay is a testament to the flexibility of Splitit’s platform and the strength of our new partnership with Checkout.com. Together we are providing a valuable resource for sellers and shoppers by powering payment after delivery.
‘We are thrilled to collaborate with two exemplary companies like Alipay and Checkout.com. I look forward to building on this initial launch by expanding into other markets in the future.’
AliExpress’s European Commercial Director, Topp Gary Paul, also added:
‘Splitit was able to provide a solution that addressed our needs to deliver a modern pay-after-delivery option for AliExpress consumers. Splitit’s white-label approach allows us to easily customise and integrate the service into our platform while delivering a positive experience for sellers and shoppers.’
The two companies have entered a Merchant Funding Agreement, which is effective from today, Monday, 16 January and has no end date in place.
If either party wishes to opt out of the agreement, they must provide written notice 30 days prior to the intended termination.
The service will be launched first in Germany, Spain, and France, though Splitit hopes to expand into further international markets in the future.
From fintech to the next boom in commodities
Let’s look aside from the fintech sector for a moment and consider the future of commodities in Australia — and what this means for investors.
Our resources expert and trained geologist, James Cooper, thinks the Australian resources sector is set to boom — an era brought on by the ‘Age of Scarcity’.
Similar patterns that occurred 20 years ago are happening again…and James is convinced ‘the gears are in motion for another multiyear boom in commodities.’
Better yet, Australia and ASX stocks stand to benefit…
The next big mining boom is predicted to happen in the next few years.
Are you ready?
You can access a recent report by James on exactly that topic AND an exclusive video on his personalised ‘attack plan’ right here.
Regards,
Mahlia Stewart,
For The Daily Reckoning Australia
