Germany’s solarisBank has joined hands together with American Express and has created a new installment payment option for card payments of €300 or more.
The product is called “Splitpay” will go live in a pilot phase in July and will be available to all members of a personal American Express Card in the course of 2020.
Under this partnership solarisBank will provide the necessary loans as well as the technology for the product whereas, American Express will provide the user interface into which Splitpay is seamlessly integrated via API.
Fabiana Mingrone, General Manager Consumer Services at American Express commented, “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”
Roland Folz, CEO of solarisBank said, “We collaborated with American Express on the development of Splitpay to offer customers an extremely simple, convenient and fast installment 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.”
