News, Education and Events Decoding Digital Payments & Fraud

News, Education and Events Decoding Digital Payments & Fraud

CNP Expo Sponsor Snapshot: PayItSimple – May 7, 2015

CNP Expo Sponsor Snapshot: PayItSimple

May 7, 2015

CNP Expo Sponsor Snapshot: PayItSimple Credit cards are, by an overwhelming margin, the most popular way to pay for online purchases in the U.S. and in many other parts of the world. Since their inception, however, one of the biggest problems for consumers using credit cards—in stores or online—is the extra cost associated with interest fees. In the past, layaway has been an option in the brick-and-mortar world, but in an online environment people want their product NOW and credit cards are a very easy way to make these transactions happen.

One New York City-based company, however, has been able to combine the immediacy of the Internet with interest-free installment payments. Alternative options for obtaining credit at the online point of sale, in addition to retail credit cards, have existed for some time, but according to Stacy Fassberg, vice president of marketing for PayItSimple USA, those options can end up being very expensive. PayItSimple leverages the unused credit most consumers have on their existing credit cards to offer installment payments at no cost to the consumer.

According to the Federal Reserve, most Americans have multiple credit cards and have excess credit available to them, Fassberg says. And, nearly every merchant accepts credit cards. PayItSimple’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.  Therefore, when a consumer might not have the funds to pay for a purchase in full at the end of one normal billing cycle, they can pay for it over time without incurring additional interest charges.

“Unlike consumer financing solutions, the consumer does not need to fill out a credit application, go through a credit check or qualify for a new line of credit,” Fassberg says. “By optimizing their unused credit line, consumers avoid interest fees while having a better way to manage their cash flow.  And merchants enjoy increased conversion rates, higher average tickets and reduced barriers to purchase, with no greater risk than they have with regular credit card purchases.”

As the Installment Payment Sponsor for the 2015 CNP Expo, PayItSimple hopes to bring its message of conversion and convenience to merchants attending the event.

“PayItSimple is an ideal solution for e-commerce merchants, Fassberg says. “The integration is extremely simple and easy and we provide Marketing Best Practices Tools to make it easy to promote the service.”

If you are interested in learning more about PayItSimple or would like to schedule an in-person meeting while attending the CNP Expo, you can e-mail Stacy at .

  • Share this Article:

Daniel Leibovitch