Splitit and GHL Partner to Offer Installment Payments to 2,000 Merchants in the ASEAN Region

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SYDNEY, July 22, 2019 /PRNewswire/ -- Splitit Payments Ltd (ASX: SPT), a leading global monthly installment payments solution business, today announced a three-year partnership agreement with GHL ePayments Sdn Bhd, part of leading payment service provider GHL Systems Berhad ("GHL"), to offer Splitit's installment solution to more than 2,000 online merchants in Malaysia, Thailand, Indonesia and the Philippines (the "Agreement").

GHL is one of the top merchant acquirers in the ASEAN region, processing over AUD $350 million in total online and offline transaction value per month via its network of large and small merchants across multiple industries, with a particular strength in the travel sector.

Under the Agreement, GHL merchants will be able to offer their customers Splitit's installment payment solution to pay for online purchases with an existing credit card, splitting the cost into interest and fee-free monthly payments. Following integration with GHL's payment systems, each merchant will be able to easily and swiftly go live with Splitit via a simple selection from a drop-down menu provided by GHL.

"This partnership allows us to continue our growth in APAC and develop our presence in multiple industries, in particular the travel sector. We are delighted to offer GHL merchants a simple way to boost sales and improve customer satisfaction by offering interest-free installments at the checkout," said Gil Don, Splitit CEO and Co-Founder. "Splitit's payment solution is a highly effective way for merchants to ease eager travelers' budget woes, while increasing brand loyalty for merchants," he concluded.

"We are excited to add Splitit to our list of world-class payment services, enabling our merchants to offer greater payment flexibility to their consumers," said Danny Leong, Group CEO of GHL Systems Berhad. "Splitit's non-lending offering is unlike any other payment player's and we believe this partnership will help us continue our growth as ASEAN's trusted payment experts."

Listed on the Kuala Lumpur Stock Exchange (KLSE: GHLSYS), GHL Systems Berhad is accredited by reputable organisations and governing bodies such as VISA, Mastercard, JCB, UPI, and Alipay. GHL is one of ASEAN's leading payment service providers, delivering powerful solutions that simplify distribution, payment, and collection, catering to all merchants in the region.

About SplititSplitit is a payment method solution enabling customers to pay for purchases with an existing debit or credit card by splitting the cost into interest and fee-free monthly payments, without additional registrations or applications. Splitit enables merchants to offer their customers an easy way to pay for purchases in monthly installments with instant approval, decreasing cart abandonment rates and increasing revenue. Serving many of Internet Retailer's top 500 merchants, Splitit's global footprint extends to hundreds of merchants in a number of countries around the world. Headquartered in New York, Splitit has an R&D center in Israel and offices in London and Australia.

About GHL GHL Systems Berhad ("GHL") is ASEAN's leading payment service provider with key operations in Malaysia, Philippines, Thailand, Indonesia, Singapore, Cambodia and Australia. GHL provides world-class payment services and solutions encompassing physical, Internet and mobile payments on a sale, rental or transactional basis and is one of the top merchant acquirers in the region.

GHL manages more than 368,000 point of sales in ASEAN that enables credit card, debit card, e-Wallets, contactless payment, loyalty, prepaid top up as well as bill payment collection services. As part of our "Beyond ASEAN" strategy, GHL has also successfully established a client base in more than 20 countries.

GHL has been listed on Bursa Malaysia since 2003 and has a market capitalisation A$356 million, as at 19 July 2019.

For more information on GHL Group, kindly visit www.ghl.com

For further information, please contact:

Allison Grey Headline Media allison@headline.media +1 323 283 8176 Catherine Strong Citadel-MAGNUS cstrong@citadelmagnus.com +61 406 759 268

 

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SOURCE Splitit

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