The Splitit Ltd (ASX: SPT) share price is pushing higher again on Wednesday.
In afternoon trade, the buy now pay later provider's shares are up 1.5% to $1.40.
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Why is the Splitit share price pushing higher?
Investors have been buying the company's shares on Wednesday after it provided a bit more colour on its deal with Google in Japan.
In case you missed it, on Monday Splitit revealed that Google customers will be able to use instalment plans to make purchases from the Google Store in Japan. This is the first time this payment method has been an option to its customers.
In the coming weeks, customers purchasing Google's new 5G phone, the Pixel 5, or Nest devices from the Google Store, will be able to split their payments into equal monthly instalments.
Splitit's CEO, Brad Paterson, commented: "This is one of the strongest case studies yet of our unique offering. We are working with Google in its effort to provide the best possible experience for its customers, and the seamless integration of Splitit into Google Store Japan means they never have to leave the platform."
What did Splitit announce today?
This morning the company clarified a few details, advising that its agreement with Google Japan is for an initial 12 month term.
This will then be automatically renewed unless either party gives notice to terminate at least 180 days before the expiry of the then-current term, or the agreement is otherwise terminated for cause or insolvency.
It also spoke about the impact the deal could have on the company and its brand image in the country.
Management explained: "As noted in the Announcement, at this point in time, the economic materiality of the Agreement with Google is unknown due to the variable nature of revenues which are dependent on customer uptake of specific products. Splitit, however, expects that partnering with Google in Japan may have a material impact on Splitit's brand and business development prospects."
The latter appears to have gone down well with investors today. They may be hoping that this leads to other deals in a country where an estimated 68% of adults have a credit card.
