Monoova forms partnership with payments solution provider Splitit

End-to-end payments provider Monoova has signed a deal to automate transactions on behalf of global instalment payments business Splitit.

The partnership empowers Splitit to focus on scaling its Australian operations, with Monoova’s Payments Engine seamlessly managing the growing number of transactions with Australian merchants.

Splitit is the only provider of instalments on credit cards, at the point of sale. It enables purchases with a credit card to be split into interest and fee-free monthly instalments, without the need for additional registrations or applications.

Commenting on the partnership, Head of Monoova, Christian Westerlind Wigstrom, said: “We are delighted to be working with Splitit, which shares our ambition to help businesses grow.

“Splitit’s technology provides an exceptional experience for buyers of higher-value goods and for the businesses that sell them. Monoova complements this by automating how money moves behind the scenes.”

Splitit is the first ASX-listed client in Monoova’s growing client portfolio which includes some of the country’s most innovative and high-growth businesses such DiviPay, Zukaz and ManagedApp. 

Splitit Executive Lead Asia Pacific Andrew Pipolo said: “We look forward to leveraging Monoova’s state-of-the-art technology as we continue to innovate to deliver a delightful customer experience.

“As a scaling business itself, Monoova brings a deep understanding of our operations and has built a solution that perfectly suits our needs, so partnering with them was an easy decision.”

Monoova specialises in enabling scaling businesses with large, ongoing transaction flows to manage payments automatically, through one simple API transaction. Over 1.2 million transactions, with a total value of more than $1.5 billion, have been made through the Monoova platform to date.

“By partnering with Monoova, businesses are able to leave payments to us while they focus on what they do best – servicing their clients.

“We are looking forward to enabling Splitit to provide seamless and stress-free transactions for both customers and businesses,” Mr Westerlind Wigstrom said.