This buy now pay later provider released an update today…
The post Splitit (ASX:SPT) share price higher on US update appeared first on The Motley Fool Australia. –
The Splitit Ltd (ASX: SPT) share price is pushing higher on Thursday morning.
At the time of writing, the buy now pay later (BNPL) provider’s shares are up 2.5% to 60.5 cents.
Why is the Splitit share price pushing higher?
Investors have been buying the company’s shares following the release of an announcement this morning.
According to the release, the company has completed its integration with US healthcare payment platform, Green Feather. This follows its entry into a partnership agreement in the first quarter of FY 2021.
Green Feather has a focus on improving patient payment experience for healthcare providers. Its Feather Pay payment platform offers patients total flexibility in paying for their care, with access to multiple payment options and the ability to combine multiple payment types in a single transaction.
Management notes that the professional services industry is a high-priority target vertical for Splitit. And while the economic materiality of the partnership with Green Feather is unknown at this point, Splitit considers that the launch of its solution on Green Feather’s platform demonstrates its progress as it expands in this important strategic growth channel.
Splitit’s CEO, Brad Paterson, commented: “Splitit’s goal is to meet consumers where they need us the most. Paying for healthcare can be stressful enough, and having to fill out applications for financing just makes it even more trying. Patients can easily select Splitit at the point of care with just a few simple clicks, helping ease the stress, while healthcare providers can focus on delivering exceptional care and patient experiences.”
This sentiment was echoed by Green Feather’s CEO and co-founder, Craig Haynor.
He said: “We are excited to partner with SplitIt to bring their powerful installment plan capabilities to our healthcare customers through an integration into our payments platform, Feather Pay. SplitIt is a fantastic product and company, led by a purpose-driven team that understands the affordability problem in healthcare. This partnership will enable all of us as patients to receive the care we so deserve and to live healthier lives because of it.”
The Splitit share price is down a disappointing 53% since the start of the year.
Should you invest $1,000 in Splitit right now?
Before you consider Splitit, you’ll want to hear this.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.