Splitit’s instalments-as-a-service solutions will be made available on Google Store. Credit: Firmbee from Pixabay.

Google has reached an agreement to offer buy-now-pay-later (BNPL) firm Splitit Payments’ instalment solutions in the US, Canada and Australia.

As part of the expanded Google agreement, Splitit’s instalments-as-a-service solutions will be made available on Google Store from next year.

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Currently, the solutions are accessible through Google Store in Japan under an agreement signed between the firms in January last year.

Initially, the expanded agreement will remain in place for a period of one year.

According to Splitit, the agreement could see a material impact on its brand and growth.

In a statement, Splitit said: “The Expanded Google Agreement shall remain in full force for an initial term of one year and shall be renewed automatically for successive periods of one year, unless a party gives written notice of non-renewal or unless the Expanded Google Agreement is terminated earlier.

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“All other terms of the Expanded Google Agreement are not relevant to assessing the impact of the transaction on the price or value of Splitit’s securities.”

Splitit currently helps consumers with a fast mode of payments for their purchases. It also allows merchants to upgrade conversion rates and grow their average order value.

With operations in London and Australia, the firm caters to around 500 online retailers.

More than 1,500 e-commerce merchants are said to accept Splitit payments in nearly 30 countries worldwide.

Early last month, Splitit Payments signed a mutual partner agreement with cloud-based payment solutions provider Checkout.com to provide an integrated instalment payments tool.