Samsung is adding another trick to its ever-evolving digital wallet: starting July 25, users in 21 states and the District of Columbia will be able to split their in-store purchases into smaller payments — no new account, credit pull, or financing hoops required. The new feature, simply called “Installment payments,” will roll out nationwide by the end of the year (Source: Samsung).
Deferring the balance, one click at a time
Not available on Chase-issued cards or American Express
Samsung’s Drew Blackard, SVP of Mobile Product Management, says the goal is to make Samsung Wallet “as helpful as possible,” turning your Galaxy phone into a true financial sidekick. “With the addition of installment payments, we’re making the payment experience even more versatile,” he said.
This new functionality is powered by Splitit, a payment service provider that leverages your existing credit card balance to enable installment plans. It’s a clever workaround: instead of applying for new credit or financing, your eligible Visa or Mastercard just gets sliced into bite-sized chunks.
Here’s how it works: When you make an in-store payment using Samsung Wallet, a “Pay in installments” option will appear under any eligible card — just tap and go. Once the purchase is complete, you’ll have up to 24 hours to pick from four repayment plans: six or eight payments every two weeks, or six or nine monthly payments. Skip choosing, and the purchase is charged in full by default.
There are a few caveats worth noting. First, not all banks are on board — credit cards issued by Chase, for instance, are excluded. You’ll also need a minimum $50 transaction and a Visa or Mastercard from a participating U.S. bank. While there’s no credit check, Splitit still runs a basic eligibility check, and the service is currently limited to users in states like Illinois, Oregon, and Georgia. (A full list of participating states is available on Samsung’s site.)
And perhaps most importantly: while Samsung is touting the feature, it’s not the lender here. Splitit is the financial provider, and your credit card’s existing APR, fees, and terms still apply — so if you’re carrying a balance, you’ll want to read the fine print.
Still, for Galaxy users looking to stretch a bigger purchase without jumping through traditional buy-now-pay-later hoops, this could be a slick new addition. Combined with features like Tap to Transfer and digital ID storage, Samsung Wallet continues to evolve into something far more useful than just a payment tool.
Learn more about device compatibility and availability at samsung.com.
