Among providers of buy now, pay later (BNPL) and installment loan payment options, Splitit is different. The company’s service is embedded in the merchant’s checkout page on a white-label basis, and the pay-over-time option comes from the line of credit tied to a cardholder’s credit card. Competitors typically present their own consumer-facing brand and underwrite the credit. This positions them to approve or deny a BNPL sale. Splitit says that authorization requests to an issuer of an existing credit card are more than twice as likely to be approved than are authorization requests...