PayItSimple Launches in UK
July 16, 2015
PayItSimple USA, a company that enables consumers to tap the available credit on their credit cards for installment payments online, is launching its service in the U.K. The company’s platform works within the existing credit-card payment infrastructure to enable interest-free installments by reauthorizing the consumer’s credit card for the unpaid part of the purchases on a monthly basis. PayItSimple USA is the New York unit of the Israeli company of the same name.
The company, which closed a $10 million funding round in May, launched in the U.S. last September. CEO Alon Feit said the U.K. launch was “[accelerated] based on growing inquiries and demand for the service.”