solarisBank & American Express to launch instalment product in Germany
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solarisBank has cooperated with American Express in Germany, thus enabling personal AMEX cardholders to use an instalment option for card payments of €300 or more. solarisBank’s new instalment product, Splitpay is expected to go live in a pilot phase in July and will be made available to all person AMEX members throughout 2020. The product combines solarisBank’s lending services and technology along with American Express’ user interface.
“We are very pleased to be able to offer our Cardmembers a new, outstanding service with Splitpay, empowered by solarisBank, giving them even more financial freedom. With Splitpay, our customers will be able to use their American Express Cards even more flexibly. The security of our customers is extremely important to us. Therefore, via secure pathways, only the data that is essential for the processing of the service is transmitted. Splitpay is a strong example of continuous product innovation at American Express and shows that we are always finding new ways to make payments convenient, simple and fast for our Cardmembers,” said Fabiana Mingrone, General Manager Consumer Services at American Express.
According to the companies, AMEX cardholders will be able to take out an instalment loan for card payments above €300 made within the past 90 days. This will be possible via an individual credit line received post completion of a one-time application process with an online identification. This will be made available to members of a personal American Express Card in Germany in 2020.
“We collaborated with American Express on the development of Splitpay to offer customers an extremely simple, convenient and fast instalment product. We are proud that we were able to launch this cutting-edge product with a global powerhouse such as American Express in just six months from development to release. It shows that we are following through on our vision of contextual banking, where financial products are seamlessly integrated into the products of others,” said Roland Folz, CEO of solarisBank.
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November 06, 2024