{"id":21108,"date":"2025-07-24T20:35:07","date_gmt":"2025-07-24T20:35:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/21108\/"},"modified":"2025-07-24T20:35:07","modified_gmt":"2025-07-24T20:35:07","slug":"samsung-and-splitit-team-to-offer-in-store-installment-payments","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/21108\/","title":{"rendered":"Samsung and Splitit Team to Offer In-Store Installment Payments"},"content":{"rendered":"

Samsung<\/a>\u00a0is bringing installment payments to its digital wallet in collaboration with\u00a0Splitit<\/a>.<\/p>\n

The new feature for the Samsung Wallet lets users pay over with their existing credit at in-store points of sale, according to a Thursday (July 24) news release<\/a>. It marks the first time an installment payment solution has been added to the Samsung Wallet, the companies said in the release.<\/p>\n

\u201cIn-store shopping still accounts for the majority of U.S. consumer spending, yet installment payments have remained largely confined to eCommerce,\u201d Splitit CEO Nandan Sheth said in the announcement.<\/p>\n

\u201cOur partnership marks a pivotal moment in the evolution of payments and customer experience\u2014giving in-store shoppers a seamless way to pay directly from their phones, while helping merchants improve conversion, increase basket sizes, and meet rising expectations at the point of sale.\u201d<\/p>\n

Research by PYMNTS Intelligence from late last year in the wake of Black Friday found that installment payments \u2014 otherwise known as buy-now, pay later (BNPL) \u2014 had hit something of a brick wall when it comes to\u00a0brick-and-mortar shopping<\/a>.<\/p>\n

During that hectic weekend, BNPL purchases accounted for\u00a07.4% of in-store transactions<\/a>, compared to 10.1% for online sales.<\/p>\n

\u201cConsumer sentiment hints at the fact that BNPL is facing headwinds in store,\u201d PYMNTS wrote, adding that the research showed that if BNPL options were not available, 21% of consumers in-store would make the purchase anyway, while 13.6% would opt for a cheaper product.<\/p>\n

\u201cConversely, only a respective 16.6% and 9.9% of online shoppers said the same,\u201d PYMNTS added. \u201cMeanwhile, 12% of digital shoppers said they\u2019d outright not make the purchase, compared to 7.9% in-store.\u201d<\/p>\n

More recently, PYMNTS teamed with Splitit on the report\u00a0\u201cManaging Unplanned Expenses: How The Pay Later Economy Fits Consumer Needs<\/a>.\u201d<\/p>\n

The study found that in the prior year, more than a third of consumers had spent at least $250 on an emergency expense, with the same share making a comparable impulse purchase within the last three months.<\/p>\n

\u201cBecause these expenses are unexpected and often exceed readily available cash, the payment method becomes particularly important,\u201d PYMNTS wrote.<\/p>\n

In most cases, consumers turned to credit, particularly credit cards, which were used for 35% of impulse buys and 33% of emergency expenses.<\/p>\n

\u201cWithin the realm of credit card usage for these large, unplanned purchases, a significant trend emerges: the\u00a0appeal of installment plans<\/a>,\u201d the report added. \u201cRather than simply revolving the balance, a substantial share of consumers opt to pay off these purchases over time using a set number of installments. While 48% of consumers who used a credit card for their latest impulse purchase chose to pay it off in full, 30% opted for installment plans.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Samsung\u00a0is bringing installment payments to its digital wallet in collaboration with\u00a0Splitit. The new feature for the Samsung Wallet…\n","protected":false},"author":2,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-21108","post","type-post","status-publish","format-standard","category-mobile"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/21108","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=21108"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/21108\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=21108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=21108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=21108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}