Synchrony is enhancing its payment options by allowing select customers to utilize the Pay Later feature within Apple Pay. This new offering enables users to either adhere to standard credit card terms or opt for promotional fixed monthly payments. Eligible customers include those holding Synchrony’s Preferred Mastercard, Plus World Mastercard, or Premier World Mastercard. Synchrony’s Chief Product Officer, Florin Arghirescu, emphasized that this initiative represents a significant advancement in digital payment flexibility, aiming to simplify transactions and provide consumers with tailored purchasing options. The company plans to broaden access to this feature for more Apple Pay users throughout the year, which will also include the capability to view and redeem rewards from Synchrony-issued cards during online and in-app purchases. This move comes amid rising interest in buy now, pay later (BNPL) services, particularly among consumers facing cash flow challenges, as highlighted by recent studies indicating increased usage in this demographic.
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