8 August 2017

Splitit Brings No Interest Payments to the Travel Industry

Launching with Leonardo Hotels, Splitit Promises Increased Revenue, Higher Conversion and Lower Cart Abandonment for Online Travel Providers

NEW YORK -- Splitit, a New York - based fintech start up, announced an agreement to bring no interest payments to travelers who book at more than 115 Leonardo Hotels across Europe and the Middle East.

Splitit allows consumers to use their existing credit cards to divide the cost of a high-ticket travel purchase into as many as 12 payments, making travel more accessible for consumers – and helping travel providers increase conversion, generate revenue and reduce cart abandonment. Beginning in October, travelers will be able to book no interest split-payment stays exclusively at https://www.leonardo-hotels.com/leonardo-hotels-destinations and www.fattal-hotels.com

"We are delighted to announce this partnership with Leonardo Hotels, a pioneer in online travel and an unmatched guest service provider," said Gil Don, Splitit's CEO & Co – Founder

"Now for the first time, guests around the world can enjoy the benefits of travel, with payments spread across a number of months – without onerous interest charges. By using the Splitit solution, online merchants can increase online order values and decrease cart abandonment dramatically. We are already serving dozens of fine retailers around the world, and are excited to launch our service in the travel space, where it is badly needed."

At a time when hotels, wholesalers and others are seeking ways to optimize revenue and provide frictionless, personalized purchase options for consumers, Splitit offers a simple, easy to integrate solution. Via a Splitit button placed on the merchant's final purchase page, travelers can easily charge any purchase on their existing credit card and pay it back in monthly interest free installments.

Splitit operates in the credit card path: unlike consumer financing solutions, the core of Splitit is the ability to optimize a card holder's unused credit line as security for an installment plan. The company has helped many online retailers increase conversion by more than 20%, bump up online revenues by more than 15%, and decrease cart abandonment by more than 10%.

Splitit anticipates announcing partnerships with additional global travel providers in the weeks ahead.

For more information, visit www.splitit.com.

About Splitit
Splitit is revolutionizing the credit card industry by extending to all sizes of merchants/retailers the ability to offer interest-free monthly payments on their customer's existing credit cards. The Splitit product has been patent protected in the United States since 2012. To learn more, please visit www.splitit.com.

About Leonardo Hotels
Leonardo Hotels operates more than 120 hotels in Europe, UK & Israel and is currently continuing its expansion. As the European Division of Fattal Hotels, founded by David Fattal, Leonardo Hotels focuses on hotels of the 3 and 4-star plus categories as well as on hotels with comparable standard, each of them individually designed and offering excellent services.

FinanceTravel technologyPartnerships, Mergers & AcquisitionsGlobal

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