While Splitit has its fair share of rivals, founder Gil Don told TTG the company’s uniqueness lay in not offering consumer finance, which can involve credit checks and lengthy sign-up forms.

At check-out, the purchaser can pay a deposit and instalments, or just instalments. There is 0% interest for either option.

Don said spreading payments does not encourage holidaymakers to go into further debt, citing research that 70% of credit-card users never use more than 50% of their credit limit.

Elsewhere, Splitit has just signed up European hotel chain Leonardo Hotels and is also in talks with UK cruise agencies and start-up airlines. The deal will extend to more than 115 Leonardo Hotels across Europe and the Middle East. Beginning in October, travellers will be able to book no interest split-payment stays, via a Splitit button that is placed on the merchant’s final purchase page.

“Hotels are fighting online travel agencies such as Expedia and Booking.com and are looking to differentiate their product,” said Don. “Hotels need an advantage and this can help them gain loyalty.”

Don claims the technology is especially attractive for airlines offering premium seats and for players in the business travel sector as the method helps organisations to “better manage their cashflow”.

He added that in Israel, 40% of online retailers offer customers the chance to spread payments, while in Brazil the figure has reached 80%.

The company began in the retail, jewellery and fashion sectors but has now set its sights on travel companies in the UK.

“We began in these sectors to make sure the technology is working OK,” he said.

“We realised the travel market is huge and will now focus on this big-ticket area.”