Interest-Free Monthly Payments with Splitit Back to knowledge base

Interest-Free Monthly Payments with Splitit

Splitit is a payment option that enables you to pay for your Krotos purchases by splitting the cost into interest-free monthly payments. Choosing Splitit offers you the flexibility to break your payment into instalments between 2 to 6 months. This means you can make a Krotos purchase now and pay it back in affordable instalments of your choice. 

These payments are interest-free monthly payments using your existing Visa or Mastercard.

  • Choose your preferred duration of payment instalments (from 2 to 6 months)
  • Use your existing credit line
  • Instant approval
  • No application forms
  • No late fees or penalties as long as payments are up to date
  • 0% Interest
  • Safe & secure

How does it work?

Splitit requests authorisation from your credit card company, reserving the total purchase amount from your available line of credit. Then, each month, according to the payment plan you select, Splitit will collect the instalment amount and request authorisation for the remaining balance.

You can choose to pay for any Krotos purchase in monthly instalments at checkout. 

Add your purchase to your shopping cart, and select ‘Splitit’ as your payment option. From here, click ‘proceed to monthly payments’ once you’ve read and agreed to the terms & conditions. In the next window you can choose your preferred length of payment plan and proceed with your order. 

You gain access to your Krotos products instantly and do not need to wait until the payment plan has been completed.

  • At the time of purchase, you will only be charged for the first payment. The remaining balance will be held on your credit card until the final payment is made. After each monthly payment, the amount held from your available balance will be reduced to the new remaining balance (the held amount might appear as “pending”).
  • To be eligible, you must own a VISA or MasterCard credit card and have the entire amount of your purchase available on your card.
  • Your 0% interest will apply as long as you pay in full your card statement balance.

Example Purchase

Here is how the Splitit service works for a customer buying a product totalling $300 in 3 instalments of $100 each:

  1. Splitit obtains authorisation from the credit card company for the full purchase amount of $300. This is not a charge on the card; it is simply reserving $300 from the shopper’s line of credit.
  2. The credit card company then charges the shopper $100 for the first payment.
  3. During the second month, Splitit requests authorisation for the outstanding purchase amount of $100, and charges the shopper the second instalment of $100.
  4. 4This authorisation and charge process continues until the full $300 is collected.

Find Out More About Splitit

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