Eligible Synchrony Mastercard Customers Now Have Access to the Pay Later Feature of Apple Pay
Synchrony (NYSE: SYF) has announced that eligible Synchrony Mastercard holders can now access the Pay Later feature when using Apple Pay for online and in-app purchases on iPhone and iPad. Customers with Synchrony Preferred Mastercard, Synchrony Plus World Mastercard, or Synchrony Premier World Mastercard can choose between standard credit card terms or promotional offers with fixed monthly payments.
To utilize this feature, customers need to add their Synchrony Mastercard to Apple Wallet. When checking out with Apple Pay, eligible users can select their card and tap Pay Later to view promotional offers. The company plans to expand this payment flexibility across its co-branded card portfolio. Additionally, Synchrony will introduce the ability to view and redeem rewards from eligible Synchrony-issued cards when using Apple Pay later this year.
Synchrony (NYSE: SYF) ha annunciato che i titolari di Mastercard Synchrony idonei possono ora accedere alla funzione Pay Later quando utilizzano Apple Pay per acquisti online e in-app su iPhone e iPad. I clienti con Synchrony Preferred Mastercard, Synchrony Plus World Mastercard o Synchrony Premier World Mastercard possono scegliere tra le condizioni standard della carta di credito o offerte promozionali con pagamenti mensili fissi.
Per utilizzare questa funzione, i clienti devono aggiungere la loro Mastercard Synchrony a Apple Wallet. Al momento del pagamento con Apple Pay, gli utenti idonei possono selezionare la propria carta e toccare Pay Later per visualizzare le offerte promozionali. L'azienda prevede di espandere questa flessibilità di pagamento nell'intero portafoglio di carte co-branded. Inoltre, Synchrony introdurrà la possibilità di visualizzare e riscattare premi dalle carte emesse da Synchrony idonee quando si utilizza Apple Pay entro la fine dell'anno.
Synchrony (NYSE: SYF) ha anunciado que los titulares de Mastercard Synchrony elegibles ahora pueden acceder a la función Pay Later al usar Apple Pay para compras en línea y en aplicaciones en iPhone y iPad. Los clientes con Synchrony Preferred Mastercard, Synchrony Plus World Mastercard o Synchrony Premier World Mastercard pueden elegir entre los términos estándar de la tarjeta de crédito o las ofertas promocionales con pagos mensuales fijos.
Para utilizar esta función, los clientes deben agregar su Mastercard Synchrony a Apple Wallet. Al realizar el pago con Apple Pay, los usuarios elegibles pueden seleccionar su tarjeta y tocar Pay Later para ver las ofertas promocionales. La empresa planea expandir esta flexibilidad de pago en su cartera de tarjetas co-branded. Además, Synchrony introducirá la capacidad de ver y canjear recompensas de las tarjetas emitidas por Synchrony elegibles al utilizar Apple Pay a finales de este año.
Synchrony (NYSE: SYF)는 자격이 있는 Synchrony Mastercard 소지자가 이제 iPhone 및 iPad에서 온라인 및 앱 내 구매 시 Apple Pay를 사용할 때 Pay Later 기능에 접근할 수 있다고 발표했습니다. Synchrony Preferred Mastercard, Synchrony Plus World Mastercard 또는 Synchrony Premier World Mastercard를 보유한 고객은 표준 신용 카드 조건 또는 고정 월 지급이 포함된 프로모션 오퍼 중에서 선택할 수 있습니다.
이 기능을 활용하기 위해 고객은 Synchrony Mastercard를 Apple Wallet에 추가해야 합니다. Apple Pay로 결제할 때, 자격이 있는 사용자는 자신의 카드를 선택하고 Pay Later를 눌러 프로모션 오퍼를 확인할 수 있습니다. 회사는 이 결제 유연성을 공동 브랜드 카드 포트폴리오 전반으로 확장할 계획입니다. 또한 Synchrony는 올해 말 Apple Pay를 사용할 때 자격을 갖춘 Synchrony 발급 카드의 보상을 보고 교환할 수 있는 기능을 도입할 예정입니다.
Synchrony (NYSE: SYF) a annoncé que les titulaires de Mastercard Synchrony éligibles peuvent désormais accéder à la fonction Pay Later lors de leurs achats en ligne et dans les applications via Apple Pay sur iPhone et iPad. Les clients possédant une Synchrony Preferred Mastercard, une Synchrony Plus World Mastercard ou une Synchrony Premier World Mastercard peuvent choisir entre les conditions standards de la carte de crédit ou des offres promotionnelles avec des paiements mensuels fixes.
Pour utiliser cette fonctionnalité, les clients doivent ajouter leur Mastercard Synchrony à Apple Wallet. Lors du paiement avec Apple Pay, les utilisateurs éligibles peuvent sélectionner leur carte et appuyer sur Pay Later pour voir les offres promotionnelles. L'entreprise prévoit d'étendre cette flexibilité de paiement à l'ensemble de son portefeuille de cartes co-marquées. De plus, Synchrony introduira la possibilité de visualiser et de réclamer des récompenses des cartes émises par Synchrony éligibles lors de l'utilisation d'Apple Pay plus tard cette année.
Synchrony (NYSE: SYF) hat bekannt gegeben, dass berechtigte Synchrony Mastercard-Inhaber jetzt die Pay Later-Funktion nutzen können, wenn sie Apple Pay für Online- und In-App-Käufe auf iPhone und iPad verwenden. Kunden mit Synchrony Preferred Mastercard, Synchrony Plus World Mastercard oder Synchrony Premier World Mastercard können zwischen den standardmäßigen Kreditkartenbedingungen oder Werbeangeboten mit festen monatlichen Zahlungen wählen.
Um diese Funktion nutzen zu können, müssen die Kunden ihre Synchrony Mastercard zu Apple Wallet hinzufügen. Beim Bezahlen mit Apple Pay können berechtigte Benutzer ihre Karte auswählen und auf Pay Later tippen, um Werbeangebote anzuzeigen. Das Unternehmen plant, diese Zahlungsflexibilität auf sein ganzes Co-Branding-Kartenportfolio auszuweiten. Darüber hinaus wird Synchrony die Möglichkeit einführen, Belohnungen von berechtigten Synchrony-Karten einzusehen und einzulösen, wenn Apple Pay später in diesem Jahr verwendet wird.
- Integration with Apple Pay expands payment flexibility for Synchrony cardholders
- Planned expansion of Pay Later feature across co-branded card portfolio indicates growth potential
- Future implementation of rewards redemption feature through Apple Pay enhances product offering
- initial availability to select Mastercard products only
Insights
The integration of pay-later functionality into Apple Pay for Synchrony Mastercard holders represents a strategic expansion in the digital payments landscape. This move positions Synchrony to capture a larger share of the rapidly growing BNPL (Buy Now, Pay Later) market, currently dominated by players like Affirm and Klarna.
The implementation leverages Synchrony's existing credit infrastructure while tapping into Apple Pay's massive user base of over 500 million globally. This synergy could drive significant transaction volume growth, as BNPL options typically increase average order values by 30-50% and reduce cart abandonment rates by 20-30%. For context, the global BNPL market is projected to reach
The planned rewards integration feature later this year is particularly noteworthy - it addresses a key friction point in digital payments and could boost customer retention and spending. From a competitive standpoint, this gives Synchrony an edge over traditional card issuers who haven't yet integrated BNPL options into mobile wallets.
This product launch significantly enhances Synchrony's competitive positioning in the consumer credit space. The seamless integration with Apple Pay addresses two critical market demands: payment flexibility and digital convenience. The ability to offer promotional financing at the point of sale through Apple Pay creates a powerful customer acquisition channel, potentially reducing customer acquisition costs which typically range from
Looking at the revenue implications, BNPL transactions generally command merchant fees of
To use a Synchrony Mastercard with Apple Pay, customers will first need to add their Synchrony Mastercard to Apple Wallet. When checking out with Apple Pay online or in-app using iPhone and iPad, users will be able to select their Synchrony Mastercard, and if eligible, tap Pay Later to view their available promotional offer. Users can then make a selection and complete the quick and seamless checkout process with Apple Pay.
"The ability for customers to choose fixed monthly payments in Apple Pay with the Synchrony Mastercard builds upon our leadership in digital payments and represents a big leap forward in offering our customers an enhanced level of flexibility and choice at checkout," said Florin Arghirescu, Chief Product Officer, Synchrony. "We believe this simplifies digital payment transactions and provides cardholders with the ability to make purchases in ways that work best for them."
Apple Pay provides users with an easy, secure and private way to pay. As with all Apple Pay purchases, when a user pays with a Synchrony Mastercard with Apple Pay, Apple does not retain any transaction information linked to the user.
Synchrony plans to expand the ability to pay for eligible purchases with fixed monthly payments to more Apple Pay users across the company's portfolio of co-branded cards.
Later this year, consumers will also be able to view and redeem rewards from eligible Synchrony-issued cards when checking out online and in-app on iPhone and iPad with Apple Pay, bringing even more flexibility and choice to the checkout experience than ever before.
About Synchrony
Synchrony (NYSE: SYF) is a premier consumer financial services company delivering one of the industry's most complete digitally-enabled product suites. Our experience, expertise and scale encompass a broad spectrum of industries including digital, health and wellness, retail, telecommunications, home, auto, outdoor, pet and more. We have an established and diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers, which we refer to as our "partners." We connect our partners and consumers through our dynamic financial ecosystem and provide them with a diverse set of financing solutions and innovative digital capabilities to address their specific needs and deliver seamless, omnichannel experiences. We offer the right financing products to the right customers in their channel of choice. For more information, visit www.synchrony.com.
1) When Synchrony Mastercard is used with Apple Pay online or in-app, the standard terms of the credit card agreement may apply (Pay In Full option) or a promotional financing offer may be available (Pay Later option). Promotional Offers are only available for eligible well qualified cardholders. Both options allow the purchase to be paid in full or over time.
Loans not offered by Apple. Subject to eligibility requirements and approval. Not available in all markets, and may not be available for all types of purchases, such as subscriptions and recurring transactions. Available with Apple Pay online and in apps, on iPhone or iPad. Not available in-store. Software requirements apply. Additional terms may apply. For more eligibility and feature details, see https://support.apple.com/120477
Contact: Tyler Allen
Synchrony
tyler.allen@syf.com
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SOURCE Synchrony Financial
FAQ
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