Synchrony Latest Bank to Add Pay Later Features to Apple Pay
Synchrony and Apply Pay logos along with a hand holding an iPhone with Apple Pay open

Synchrony Latest Bank to Add Pay Later Features to Apple Pay

After teasing new capabilities for credit card customers in October, Synchrony is now officially bringing a “pay later” option to Apple Pay.

About the new pay later feature:

Synchrony cardholders will now have more options when using Apple Pay via iPhone or iPad to shop online or in-app. In addition to being able to make a regular credit card payment, eligible customers will also have a promotional offer option that will enable them to pay for purchases in fixed monthly payments.

This function is now available for eligible Synchrony Preferred Mastercard, Synchrony Plus World Mastercard, or Synchrony Premier World Mastercard customers. However, the bank Synchrony intends to expand this fixed monthly payment option to its portfolio of co-branded cards in the future.

In order to set up this feature, eligible cardholders will first need to add their card to their Apple Wallet. Then, when checking out using Apple Pay online or in-app, they may see a Pay Later option when selecting their Synchrony card. Tapping this option will then display any available promotional offers.

In addition to this update, Synchrony reiterated its plans to allow cardholders to view and redeem rewards in Apple Pay. This feature is currently expected to be introduced later this year. Currently, only Discover cards in the United States support such functionality — although Apple Pay issuers with Fiserv and FIS are also reportedly being added to the program.

What they’re saying:

Announcing the new capability, Synchrony’s Chief Product Officer Florin Arghirescu remarked, “The ability for customers to choose fixed monthly payments in Apple Pay with the Synchrony Mastercard builds upon our leadership in digital payments and represents a big leap forward in offering our customers an enhanced level of flexibility and choice at checkout.”

Arghirescu added, “We believe this simplifies digital payment transactions and provides cardholders with the ability to make purchases in ways that work best for them.” 

My thoughts:

Although I do like to see more issuers embracing Apple Pay’s tools, I’m far more interested in the “pay with rewards” feature than I am in the “pay later” one. On that note, I guess I’ll need to wait a bit longer to see that functionality come to Synchrony. Honestly, I’m a bit surprised that more banks and issuers haven’t jumped on board that train, with Discover still being the only one in the United States. I suppose it has only been a few months since iOS 18 launched — but I would have suspected a more robust slate of early adopters. Guess that goes to show what I know!

Back to the matter at hand, I’m not sure if this new fixed monthly payment option that select Synchrony cardholders can utilize is a good one, but I appreciate them having it nonetheless.

Author

Kyle Burbank

Head Writer ~ Fioney
Kyle is the head writer for Fioney. He is a personal finance nerd, constantly looking for new apps and services to test and incorporate into his own financial game plan. In addition to his role at Fioney, he's written for other publications including Born2Invest, Lifehack, and Laughing Place, as well as his own site Money@30. He also creates personal finance and travel-related videos for Fioney's YouTube channel, which has garnered more than 2 million views. Currently, Kyle resides in Springfield, Missouri with his wife of 10 years. Together, they enjoy traveling (including visiting Disney Parks around the world), dining, and playing with their dog Rigby.

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