American Express has revealed a new strategic alliance with US-based fintech GreenSky, giving customers access to its innovative solutions.
The multi-faceted partnership will help merchants grow their businesses and give consumers greater flexibility in financing their purchases via enhanced digital payments and financing capabilities.
GreenSky's technology will give select American Express customers options to finance large purchases in a paperless environment, with customers who apply for installment loan financing via its mobile app, online or over the phone, usually receiving a decision and transaction within a minute.
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"American Express is committed to backing businesses and their customers," said Stephen Squeri, Chairman & CEO of American Express. "Our partnership with GreenSky, a fast-growing and innovative fintech company, will grant more merchants access to leading payment technology and financing solutions to enhance their customer experience and close more sales."
David Zalik, CEO and Chairman of GreenSky, added: "We’re excited to work with American Express, a global leader in the payments industry that is known for its commitment to providing exceptional value to its customers. We’ve long admired American Express and all that the brand stands for.
"Combining our industry-leading technology platform with the security and backing of American Express will allow us to continue innovating to meet evolving customer needs."
Since GreenSky's inception, over 1.7mn consumers have financed over $12bn of commerce using its real time 'apply and buy' technology.