Synchrony announced a strategic investment in Skipify, an AI-powered payments company that enables merchants to offer an instant, one-tap checkout solution. In addition to the strategic investment made through Synchrony Ventures, Synchrony will partner with Skipify on commercializing Skipify’s capabilities across Synchrony’s expansive merchant network and financial ecosystem.
Synchrony Ventures invests in early-stage companies and provides access to Synchrony’s leading financial ecosystem – committing money, time, and resources to its partners to enable growth and success. With a portfolio of more than 15 companies, Synchrony collaborates with founders to shape the future of financial services. Skipify empowers shoppers to see real-time product information and purchase instantly across email, text, social, affiliate, display and web channels.
“Synchrony is committed to continuously evolving the shopping journey for customers which means helping our merchant partners digitally transform, reduce friction and increase conversion rates,” said Trish Mosconi, EVP, Chief Strategy and Corporate Development Officer at Synchrony. “With approximately 60 million cardholders, this partnership has the power to transform digital commerce as we know it.”
Overview by Don Apgar, Director, Merchant Services Advisory Practice at Mercator Advisory Group
