Citibank Equal Payment Plan, page-65

First 65 Last

Share
Profile

Follow
StefanF

763 Posts.

98

19/03/19

15:47

Post #: 37812287
Share

Originally posted by French Orchard ↑

Splitit facilitates the payment of installments via the customer's existing credit card. Splitit does not take on the risk. They use a third party to provide funds if the merchant wants up front payment. If the merchant is OK with installments. they will come off the customers credit card automatically, not from Splitit. Splitit is like a middle man. Reading this, some posters may start again about how splitit doesn't have a product, but in fact it does. It delivers the installment capability to the customer and the merchant, using customer's existing credit card. Sort of like using Uber Eats?? Am trying to think of a clear analogy... Everyone could also read the legals at https://www.splitit.com/legals/pci/ and https://www.splitit.com/legals/splitit-shopper-terms-conditions/english/ in particular.
These will probably be similar in Australia. A lot of downrampers bring up the risk - it's the card issuer who takes on the risk the moment they authorise a credit card for someone. And credit card delinquency is less than 5% I think. Not good, but not a lot either.The vast majority of people using these products have every intention of making the payments rather than somehow trying to defraud the merchant.

Expand

The 5% delinquencies shouldn't be an issue anyway since each bank product is priced according to risk/delinquency rates. That's why credit cards charge up to 20% in annual interest and mortgages charge around 4% (atm).

SPT Price at posting: $1.34 Sentiment: Hold Disclosure: Not Held
3 Upvote

0 Great analysis

Reply

Top Stories

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

NTI

Neurotech bounces back from FDA rejection with new baseline study for NTI164

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

There are more pages in this discussion • 14 more messages in this thread...

First 65 Last

Add SPT (ASX) to my watchlist

Citibank Equal Payment Plan, page-65

Top Stories

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

Neurotech bounces back from FDA rejection with new baseline study for NTI164

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

Featured News