Splitit (Split Payment)

I was taking advantage of the offer with Google where you can trade in a phone and get a new pixel 8a and 2 man credit, for only 4 man.

Anyways, at checkout they had the option to use the service known as splitit. Where for zero fee they split your payments into 12 months, and once your old device is assessed they subtract the credit from the balance.

All that worked fine, but I'm ucertain how this company makes money? Is the vendor (Google) covering all the fees? The price did not change when you split it over 12 months.

Is the assumption on the vendor's (Google's) end that customers will spend more money if they use this service? Thus it's worth the company providing it?

*Caveat, no debt, good savings, ideco/Nisa done erc. Tried this on a whim.