Splitit (ASX:SPT) share price higher on US update

This buy now pay later provider released an update today…

| More on:
Zip share price man hitting digital screen saying buy now pay later

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Splitit Ltd (ASX: SPT) share price is pushing higher on Thursday morning.

At the time of writing, the buy now pay later (BNPL) provider's shares are up 2.5% to 60.5 cents.

Why is the Splitit share price pushing higher?

Investors have been buying the company's shares following the release of an announcement this morning.

According to the release, the company has completed its integration with US healthcare payment platform, Green Feather. This follows its entry into a partnership agreement in the first quarter of FY 2021.

Green Feather has a focus on improving patient payment experience for healthcare providers. Its Feather Pay payment platform offers patients total flexibility in paying for their care, with access to multiple payment options and the ability to combine multiple payment types in a single transaction.

Management notes that the professional services industry is a high-priority target vertical for Splitit. And while the economic materiality of the partnership with Green Feather is unknown at this point, Splitit considers that the launch of its solution on Green Feather's platform demonstrates its progress as it expands in this important strategic growth channel.

Splitit's CEO, Brad Paterson, commented: "Splitit's goal is to meet consumers where they need us the most. Paying for healthcare can be stressful enough, and having to fill out applications for financing just makes it even more trying. Patients can easily select Splitit at the point of care with just a few simple clicks, helping ease the stress, while healthcare providers can focus on delivering exceptional care and patient experiences."

This sentiment was echoed by Green Feather's CEO and co-founder, Craig Haynor.

He said: "We are excited to partner with SplitIt to bring their powerful installment plan capabilities to our healthcare customers through an integration into our payments platform, Feather Pay. SplitIt is a fantastic product and company, led by a purpose-driven team that understands the affordability problem in healthcare. This partnership will enable all of us as patients to receive the care we so deserve and to live healthier lives because of it."

The Splitit share price is down a disappointing 53% since the start of the year.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on BNPL shares

A woman sits back and enjoys the view from a paraglider, indicating share price lifts for ASX travel and adventure shares
BNPL shares

Up 71% in 3 weeks, have Zip shares topped out?

Despite the stellar run higher, Zip shares are still trading at a fraction of their February 2021 highs.

Read more »

A woman sits on a chair smiling as she shops online.
BNPL shares

Why is the Zip share price the best-performing ASX 300 stock so far this year?

The best-performing ASX 300 stock of 2024 so far is an unlikely hero.

Read more »

A happy girl in a yellow playsuit with a zip gives the thumbs up
Share Gainers

If I'd put $5,000 into Zip shares on 9 October, here's what I'd have now!

The stars have been aligning for Zip shares.

Read more »

woman using affirm to pay
BNPL shares

Up 288% in 6 months, Zip share price tipped for more outsized gains

Zip shares have rocketed 288% in just six months.

Read more »

A businessman stacks building blocks.
BNPL shares

Up 93% since October, why are Block shares marching ahead again on Friday?

ASX 200 investors have been snapping up Block shares.

Read more »

A man wearing glasses and a white t-shirt pumps his fists in the air looking excited and happy about the rising OBX share price
BNPL shares

Zip share price up 58% in 7 trading days! What's going on?

This BNPL provider has been on fire recently. But why?

Read more »

A man holds his hand under his chin as he concentrates on his laptop screen and reads about the ANZ share price
BNPL shares

Shares sold: Why Zip is under fire from its own shareholders

Some Zip investors had their shares sold without their knowledge.

Read more »

Sad woman with her hand on her head and holding a credit card.
BNPL shares

Zip share price tumbles 9% despite explosive first-half growth

Zip had a strong half and delivered a big improvement in key metrics.

Read more »