Samsung has announced that starting tomorrow, July 25, it will be adding installment payments in select US states for in-store purchases, with plans for a full rollout to all states by the end of 2025.
The company is able to achieve this thanks to a partnership with Splitit, a Buy Now Pay Later (BNPL) service that lets customers use their existing credit card like a Visa or Mastercard for payment plans.
Unlike many BNPL options that issue a new loan, Splitit operates by placing a pre-authorization hold for the total purchase amount on your available credit limit. This hold decreases as you make your installment payments, and because it uses your existing credit, there is no separate application or new credit check involved.
To use the feature, you would need a Galaxy phone running Android 12 or higher with an eligible Visa or Mastercard credit card in your Samsung Wallet. When paying, you then tap the pay in installments option that appears.
It is worth noting that credit cards issued by Chase Bank do not support this feature, and a minimum purchase of $50 is required. After you have made the purchase, there are four installment plans you will be greeted by, including: six payments every two weeks, eight payments every two weeks, six monthly payments, and nine monthly payments.
Samsung also says that if you do not select a plan within 24 hours of the transaction, the purchase will just be paid in full.
For the launch, here is the list of states that the feature will start in:
- Arizona
- Arkansas
- Colorado
- Georgia
- Idaho
- Illinois
- Kansas
- Louisiana
- Maine
- Maryland
- Michigan
- Missouri
- Montana
- New Hampshire
- New Mexico
- North Dakota
- Oklahoma
- Oregon
- Tennessee
- Utah
- Wyoming
- District of Columbia
This new payment option builds on the Tap to Transfer feature for peer-to-peer payments, which it brought to the US about two months ago.