solarisBank enables instalments for German AmEx customers
solarisBank and American Express have teamed up to enable the latter’s customers in Germany to pay in instalments.
American Express will be using the firm’s Splitpay service, which will go live in a phased pilot during July. All American Express Card holders in Germany will be given access over the course of 2020.
The product enables American Express cardholders to receive an instalment loan for card payments over €300.
Splitpay is integrated into American Express via an application programming interface (API). Cardholders can sign up for the credit agreement completely online.
Customers will receive an individual credit line upon successful completion of a one-time application process. The duration of the instalment process is set manually.
“With Splitpay, our customers will be able to use their American Express Cards even more flexibly,” says American Express general manager for consumer services, Fabiana Mingrone.
“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.”
She adds: “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.”
American Express made waves earlier this month by becoming the first licensed payment network to process local currency in China.
The People’s Bank of China has granted the network clearing licence to the US card giant’s Chinese joint venture with local firm LianLian DigiTech.