NEW YORK—Buy now, pay later (BNPL) firm Splitit is reporting it is partnering with letus, a cloud-based payment platform for the rental market, via an Installments-as-a-Service integration.
The collaboration lets tenants extend expenses like rent or security deposits across several monthly payments on the credit card of their choice with no additional interest charges, according to the company.
Splitit offers a white-label installments solution that provides an application programming interface (API) integration, which enables letus to deliver a branded experience embedded in the platform, Pymnts.com said.
“Splitit helps us reach our objective to bring innovative technology and tools to alleviate some of the biggest hurdles for tenants and property managers alike,” said letus CEO Jean-Francois Brissot in a statement. “The ability to integrate Splitit’s white-label solution into our platform ensures a seamless and simple experience, helping foster a stronger relationship between tenants and landlords.”
Taking ‘Control’
According to the company, the letus cloud payment platform specializes in flexible payment solutions for rent as well as credit reporting and other solutions to “empower its customers — both landlords and tenants — to take control of their finances.”
Property managers are provided with tools for rent collection, and tenants are offered payment options as well to reconcile all payments on a single, integrated platform, Pymnts.com explained.
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