The Benefits of Partially Over SplitIt: A Comprehensive Comparison

In the rapidly evolving world of e-commerce, offering customers flexible payment options has become a crucial component of the online shopping experience. Two prominent players in the space of alternative payment solutions are Partially and SplitIt. While both platforms enable businesses to offer installment payment options to their customers, there are distinct advantages that make Partially a more favorable choice for many merchants. In this post, we will delve into the unique benefits of Partially over SplitIt, and why it could be the better solution for your business.

1. No Credit Card Required for Payment Plans

One of the primary differences between Partially and SplitIt is the flexibility in payment methods. SplitIt requires customers to have a credit card, as the service works by placing a hold on the credit limit of the card, and deducting the installments over time. This limits the pool of customers to those who not only own credit cards but also have sufficient credit available.

In contrast, Partially offers broader payment options, including credit cards, debit cards, and even bank transfers, depending on the merchant’s setup. This makes Partially accessible to a wider range of customers, especially those who may prefer or need to use debit cards or alternative forms of payment.

2. More Flexibility in Payment Plan Structures

Partially gives merchants greater control over how they structure their payment plans. Businesses can set up customizable installment plans with varied intervals, percentages, and durations. Whether you want to offer weekly, bi-weekly, or monthly installments, Partially allows you to tailor the payment schedule according to your needs and the preferences of your customers.

On the other hand, SplitIt’s model is more rigid, as it is entirely dependent on the customer’s available credit limit and the merchant’s ability to process traditional credit card payments. This inflexibility can be a limitation for businesses that need more diverse and dynamic payment structures.

3. Global Reach and Currency Support

In today’s interconnected world, serving a global customer base is becoming increasingly important. Partially stands out by offering support for multiple currencies, allowing businesses to sell to customers around the world without needing to worry about currency conversion complexities.

While SplitIt also has international capabilities, its reliance on credit card networks means it may not always be the best fit for global transactions. Furthermore, some customers from certain regions may not have access to or prefer not to use credit cards, limiting the reach of merchants using SplitIt.

4. No Impact on Credit Utilization

A key issue with SplitIt is that it places a hold on the customer’s credit card, effectively tying up their available credit for the duration of the payment plan. This can be inconvenient for customers who want to maintain access to their credit or avoid high credit utilization ratios, which can negatively affect their credit scores.

With Partially, there is no impact on a customer’s credit utilization, as it doesn’t depend on a credit hold. This is a significant benefit for consumers who want the freedom of installment payments without the downside of affecting their credit usage, making them more likely to complete their purchases.

5. Seamless Integration and User Experience

Partially excels in terms of ease of integration and user experience. The platform offers a simple, developer-friendly API, which can be seamlessly integrated with a wide range of e-commerce platforms, including Shopify, WooCommerce, BigCommerce, and others. This flexibility makes it easy for businesses to set up and manage payment plans without extensive technical expertise.

SplitIt, while offering integrations with major platforms, requires merchants to ensure their credit card processing systems are fully compatible. This can lead to more technical overhead and potential complications for businesses that use different payment processors.

6. No Interest or Hidden Fees for Customers

Another significant advantage of Partially is its no-interest, no-fee model for customers, similar to SplitIt. However, because Partially supports more payment methods and allows businesses to offer custom payment plans, it ensures that customers are not penalized with additional fees simply for choosing a non-credit card option.

This transparent pricing model not only builds trust but also encourages more customers to take advantage of payment plans, resulting in higher conversions and customer satisfaction.

7. Ideal for Subscription-Based or High-Ticket Items

Partially is particularly advantageous for businesses that sell subscription-based services or high-ticket items. Its flexibility in payment plan creation allows merchants to design recurring payment models or extended financing options that suit their business model and customer needs. This is especially useful for industries like healthcare, education, or luxury goods where customers often need more customized payment terms.

SplitIt, while offering installment options, is more limited in its ability to cater to businesses that need tailored long-term financing or recurring payments.

Conclusion: Partially Offers Superior Flexibility and Customer Reach

While SplitIt provides a solid solution for customers who prefer to use their credit cards, Partially shines as the more flexible and accessible option for both merchants and customers. Its broader payment options, customizable plans, and global reach make it an attractive choice for businesses seeking to maximize their customer base and conversion rates.

Ultimately, the decision between Partially and SplitIt depends on your business’s specific needs. However, if you’re looking for a solution that offers greater payment flexibility, caters to a wider audience, and provides a seamless experience, Partially offers distinct advantages that can elevate your e-commerce strategy.