ThriveCart will unveil ThrivePay Installments later on Wednesday. The new capability enables buyers to split the cost of a purchase into 3, 6, or 12 monthly payments, while drawing on available limits of their current credit cards rather than initiating new lines of consumer credit or loans.
The company, which secured a $35 million investment from LTV SaaS Growth Fund in 2023, frames the service as an alternative to conventional buy now, pay later offerings. Traditional BNPL services typically depend on underwriting models, location-based approval systems, and the creation of new consumer debt. By contrast, ThrivePay Installments relies on existing credit lines.
ThriveCart says it is aiming to access what it characterizes as a largely untapped source of consumer purchasing power. The company cites an estimate that U.S. consumers hold approximately $4.1 trillion in pre-authorized credit, with about $3.3 trillion of that capacity remaining unused. By using that existing credit, ThriveCart expects authorization rates for transactions to be near 85 percent - roughly double the approval rates it says some BNPL providers achieve.
The new product covers multiple use cases. It applies to one-time purchases of both digital and physical goods, and can also be used for subscription billing. ThriveCart will pay merchants up front for transactions completed through ThrivePay Installments, preserving merchant cash flow while offering buyers a way to spread payments over time.
ThriveCart has processed more than $8 billion in sales across 70 million transactions to date, and it sees the installment option as particularly relevant for higher-ticket digital products. The company notes that BNPL approval rates often decline for larger-ticket digital offerings because of lending limits and cross-border constraints; the new feature is designed with those limitations in mind.
Context and mechanics
The service will let shoppers use current credit card capacity to break payments into set monthly installments. ThriveCart projects that leaning on existing credit limits will yield materially higher authorization success than some BNPL alternatives, and that immediate merchant payout supports sellers who offer larger or cross-border digital goods.
What the announcement does not specify
- No new timelines beyond the launch day are provided in the announcement.
- No pricing terms, fees, or merchant rates for ThrivePay Installments were detailed.