Splitit Names a CEO

·2 min read

Splitit, which enables shoppers to use their credit cards to pay in installments, has appointed Nandan Sheth chief executive officer.

Sheth, an experienced fintech and payments industry executive, joins the Splitit buy now, pay later service on Feb. 28. He succeeds interim CEO John Harper, who joined Splitit in August 2021 to lead the company during the global search process for a permanent appointment and who will stay on for a transition period.

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Sheth most recently served as Fiserv’s head of global digital commerce and head of Fiserv’s Carat business, an ecosystem of omnichannel commerce solutions for multinational merchants. Before that he was president of Acculynk, the company he co-founded in 2008 and sold to First Data in 2017. His earlier experience includes serving as general manager at American Express and co-founding and scaling Harbor Payments (sold to American Express) and e-Debt.

Nandan Sheth
Nandan Sheth

“Nandan brings more than 20 years of relevant experience and a powerful network within the payments and fintech space to Splitit,” Dawn Robertson, chair of the board of Splitit, said in a statement. “Given his background and experience as a leader across business development, production strategy, and his ability to successfully develop and launch partnerships, we’re confident that he will unlock the growth potential of the company.”

“At the same time, we thank John Harper for his leadership and guidance as interim CEO. Having a veteran retail executive at the helm over the past six months has helped us better understand merchants’ needs and expectations and develop our business in ways that help our partners take full advantage of the market opportunities in front of them,” Robertson said.

Splitit is a credit card–based payment solution that lets consumers pay by installment. Splitit gives shoppers more control by turning larger purchases into more manageable monthly installments on their existing credit cards, with no new financing, interest or fees, while benefiting from the card’s existing rewards program.

“I’m honored to join this disruptive fintech company at an inflection point,” Sheth said in a statement. “There is unparalleled demand for its innovative payment option letting consumers use their existing credit, rather than new financing, for spreading out large purchases. The global opportunity for Splitit is tremendous, and I’m excited to be part of the journey that impacts consumers, merchants and shareholders.”

Buy now, pay later is a competitive and growing service sector that includes Klarna, Affirm and Afterpay.

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