SAN FRANCISCO–American Express said it is partnering with the fintech Skipify to change home its cardholders make payments during the checkout process.
According to the company, Skipify's technology identifies select Amex customers via their email address, enabling them to automatically link their eligible Amex cards to check out with participating merchants.
The solution removes the need for consumers to manually enter their payment and billing details, improving merchant approval and conversion rates.
Skipify said it partners with financial institutions to directly pull and store consumers' eligible payment and billing address information on file, after securely authenticating the consumer at checkout.
“For merchants, this results in fewer abandoned carts and higher authorization rates, regardless of channel, platform, or processor,” Skipify said.
The launch of Card Linking falls under what is known as the Connected Checkout category. Skipify will be rolling out additional partnerships with other financial institutions later this year.
Investment Made
In early 2021, Amex Ventures, the venture capital arm of American Express, invested in Skipify.
"As we scale past millions of monthly checkouts on our platform, we are excited to layer in our Card Linking solution with American Express to the thousands of merchants that offer Skipify today,” said Ryth Martin, founder and CEO of Skipify.
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