Splitit Mobile Payments System Adds Ableton to its Roster
Having the option to take one big purchase and turn it into four smaller purchases, without being charged interest or the like, is a fairly attractive option to many shoppers out there. It was the original theory behind layaway—except the store kept the goods while they were being paid off—and gave credit cards their first real opportunity. Now, Splitit—which offers that same kind of short-term installment plan—has sent word our way about one more company that it and its users can do business with: Ableton AG.
For those not familiar, Ableton is one of the biggest providers of music software on the planet. A German firm headquartered in Berlin, Ableton’s software tools are vital solutions for a range of musicians and sound designers, as well as certain other artists. Ableton has recently established a significant foothold in the United States as well, making it an excellent addition to the Splitit roster thanks to its own North American expansion.
Splitit’s co-founder and CEO Gil Don noted “Ableton is considered the best music software in the industry and has a dedicated following of music makers across the world. We are excited to be offering its community of musicians a new way to make their purchases via interest and fee-free installment payments.”
It really doesn’t matter how well a product works if it can’t be used anywhere; try selling the world’s greatest tree-cutting appliance to someone who lives in the desert. Improving use cases, therefore, commonly has a salutary effect on a product’s life cycle. The problem here is that Splitit is adding new applications in dribs and drabs, and not particularly well-known applications, either. Sure, Ableton is a big deal with musicians and artists, but ask five people on your block about them and see how many give you anything but a blank look.
Splitit’s advances are noteworthy, but they need some truly killer apps. A Best Buy, a Target, maybe even a Ford—imagine buying your new car in four installments of $5,000 a month for four months with zero interest instead of 72 to 84 months of $300 payments a month at around four percent—would make Splitit a force to be reckoned with. If it wants to truly get out of the gate, it needs bigger names in its lineup.