Citibank Equal Payment Plan, page-15

Have read the Legals you linked to. The first is a reference to the enrcyption that is used and the second does not mention anything regarding the upfront payment to merchants. There is no mention whatsoever of them factoring the debt to a third party.

Again, there is a very good reason that Splitit do not have a single merchant on their books that is remotely close to meaningful. The offer to merchants is utter dross.