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DXC Technology, a Fortune 500 technology services provider, and Splitit, a leader in embedded card-linked installments, have announced a strategic collaboration to empower banks to offer Buy Now, Pay Later (BNPL) capabilities. Leveraging DXC's widely-used Hogan core banking platform, this partnership provides a turnkey path for banks to deploy personalized installment plans at checkout and post-purchase, enabling them to compete directly with fintech BNPL providers using the accounts and cards customers already have.
Quick Intel
DXC Technology and Splitit partner to enable BNPL offerings for traditional banks.
The solution leverages DXC's Hogan platform, which powers over 300 million bank accounts.
Banks can offer installments using existing debit/credit cards without new applications.
It aims to reclaim market share from fintech BNPL providers that have disintermediated banks.
The solution unlocks a new revenue stream for banks and increases flexibility for consumers.
It particularly benefits debit-first consumers and in-store retail purchases.
Reclaiming Control in the BNPL Market
For years, BNPL providers have eroded banks' relationships with their own customers by offering point-of-sale lending. This partnership is designed to reset that dynamic. It allows banks to quickly deploy branded installment offers that appear natively at checkout or within their online banking portal. This approach requires no third-party accounts or new loan applications, putting financial institutions back in control of the customer payment experience.
Key Benefits for Banks and Consumers
The collaboration offers several strategic advantages. It extends access to debit cardholders, unlocking a wider customer base, including younger demographics. Banks gain a new, predictable revenue stream from installment plan fees. They also have lending flexibility, choosing to originate the installments directly or have Splitit act as their lending partner. For consumers, it means flexible payment options using the trusted banking relationships they already have, both online and in-store. Sandeep Bhanote, Senior Vice President and Global Head of Financial Services at DXC, stated, "By normalizing installment capabilities across existing accounts, we're enabling issuers to modernize their offerings without replacing their core—and empowering consumers with flexible payments that use the cards they already trust."
A Strategic Response to Market Demand
The partnership directly addresses a significant market opportunity, with the installment payment solution market projected for substantial growth. Nandan Sheth, CEO of Splitit, said, "BNPL players have disintermediated banks by offering transactional lending at the merchant checkout. This partnership resets the playing field. Together with DXC, we're empowering banks to compete head on with BNPL providers by bringing installments directly into existing bank accounts."
This collaboration represents a significant shift in the competitive landscape of point-of-sale financing. By embedding modern installment capabilities directly into the foundational infrastructure of the banking system, DXC and Splitit are providing a powerful, seamless alternative that allows traditional financial institutions to not only compete with but also leverage their inherent advantages over standalone BNPL fintechs.
DXC Technology (NYSE: DXC) is a leading global provider of information technology services. We're a trusted operating partner to many of the world's most innovative organizations, building solutions that move industries and companies forward. Our engineering, consulting and technology experts help clients simplify, optimize and modernize their systems and processes, manage their most critical workloads, integrate AI-powered intelligence into their operations, and put security and trust at the forefront. Learn more on dxc.com.
Splitit is the only global installment payments platform that lets shoppers use the credit they already have. By turning card linked purchases into flexible installments, Splitit gives consumers a simple, transparent way to pay over time while helping merchants boost conversion and order value without added risk. Trusted by leading brands across retail, luxury, travel, and technology, Splitit is used in more than 100 countries and is now powering embedded installments inside Samsung Wallet for use in physical retail. Learn more at Splitit.com.
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