Split (FinTech Company)

Split is a Singapore-based company that has a payment platform for consumers. Its focus is allowing customers to divide larger purchases for traveling into smaller payments, making travel more affordable. Travel necessities such as flights and accommodation can be paid for using this software.

Product

The company's software can be integrated into travel websites. When customers are prompted to pay for the travel product or service, they can have the option to pay with Split. It decides in real-time to approve or deny the transaction. Should it be approved, the software divides larger purchases into smaller payments. Split itself pays for the travel service and then the customer repays Split with smaller payments over a set period of time.Travel merchants can increase their customers who would not normally be able to afford large travel purchases and also increase revenue through service fees, late payment fees, and transaction fees.

The company has targeted Malaysians living abroad who needed to return to the country to vote. It subsidized flights and provided the standard service of allowing for flights to be paid in installments.