Synchrony Announces Strategic Investment in ePayments Platform Skipify

Financial services company Synchrony on Wednesday (Dec. 15) unveiled a strategic investment in digital payments company Skipify that gives merchants the opportunity to give their customers a one-tap checkout solution.

Synchrony will work with Skipify to commercialize Skipify’s capabilities across Synchrony’s merchant network and financial ecosystem, on top of the investment it’s making through Synchrony Ventures.

The Synchrony-Skipify collaboration brings one-tap checkout to emails, ads texts and websites. Synchrony’s merchant partners can embed the solution to allow their customers to complete their purchases with a Synchrony-issued credit card in one tap and apply rewards and discounts.

“Synchrony is committed to continuously evolving the shopping journey for customers, which means helping our merchant partners digitally transform, reduce friction and increase conversion rates,” said Trish Mosconi, EVP, chief strategy and corporate development officer at Synchrony, in the joint announcement.

“With approximately 60 million cardholders, this partnership has the power to transform digital commerce as we know it,” she said.

Skipify says its merchant partners have seen a 30% increase in sales conversions.

“The products and capabilities Synchrony has, plus the ability to scale them — and their expertise in loyalty, analytics and email marketing, makes this partnership a key growth driver for us,” said Ryth Martin, CEO and co-founder of Skipify. “We are on a mission to redefine frictionless commerce and look forward to co-creating the future.”

Related: Prime Healthcare Expands Healthcare Financing With Synchrony Collaboration

In October, Synchrony and healthcare provider Prime Healthcare teamed up to give Prime’s patients the option to pay for their healthcare appointments over time through Synchrony’s CareCredit credit card.

Prime Healthcare has 45 hospitals in 14 states. The healthcare credit card will be available for qualified patients’ pre-care, point-of-care and post-care payments.

Members can apply for the Synchrony CareCredit card on their mobile devices or computers, in their provider’s office or over the phone and will get a decision in seconds. They can pay bills in long- and short-term chunks, including deferred interest if paid in full within six, 12, 18 or 24 months, and reduced APR with fixed monthly payments for 24, 36, 48 or 60 months.