Splitit

The authorization and the payments

At a participating checkout, select Splitit, enter the eligible card and choose an installment option. The plan is created automatically, with no separate signup or app download. Splitit places a temporary authorization against the purchase amount; installments are then charged on the agreed schedule. The hold reduces the credit available for other purchases.

An email provides access to the Shopper Dashboard to view dates, update the card or repay the balance early. Monthly payment dates follow the original purchase date and cannot be moved. Returns begin with the merchant, which must approve the refund.

Standard card plans and digital wallets

Splitit says its standard card installments add no interest, while the credit-card issuer's terms still apply. The card needs enough available credit for the full authorization.

Digital Wallet Installments currently work through Samsung Wallet in the United States with eligible Visa or Mastercard credit cards. These plans include a finance charge that varies by state and is shown before confirmation. Their authorization includes the purchase amount and interest, so the amount reserved can exceed the goods' price. The bank determines how long that authorization remains visible.