who pays the merchant their money? You're kidding me right ?you...

who pays the merchant their money? You're kidding me right ?

you do realise that this has similar risks to people buying items using their credit card with the retailer ?? It's similar as to what would happen if someone defaults on their credit card payments. The bank would go after the customer.


While there is always a risk of default. Splitit is aiming itself (to my understanding) at older people who have the capability in acquiring a credit card and are purchasing luxury / higher value items. One would expect that the risk of default would decrease compared to loans advanced to individuals without any credit check.