Splitty Pay

About Splitty Pay

Based in Milan, Italy, Splitty Pay was founded in 2017 by Matteo Anthony Destantini and Alberto Porzio, who serves as the company's CEO. The fintech firm operates in the e-commerce and retail payment sector, offering a B2B2C web-based software solution that functions as an alternative payment platform.

The company's core product is a payment plugin for merchant checkout pages, both online and in-store. This system initially focused on allowing customers to split a total purchase amount across multiple debit or credit cards, facilitating group payments. This feature helps merchants by potentially increasing conversion rates, raising the average cart value, and reducing cart abandonment. The payment process can be initiated by scanning a QR code in-store or selecting Splitty Pay at online checkout, and users can send payment links via email or SMS to others to complete a group purchase.

Splitty Pay has since evolved to prominently feature a "buy now, pay later" (BNPL) model. This service, offered in partnership with Avvera S.p.A., allows consumers to divide their purchase cost into interest-free installments, typically starting at four payments. For merchants, Splitty Pay provides the immediate full value of the transaction while handling the collection of the subsequent installments from the customer, thereby assuming the risk. The company was acquired by Avvera in July 2023 and now operates as a subsidiary.