Skipify, a fintech firm seeking to transform the checkout experience, has announced a partnership deal with American Express. The deal will link Amex US Consumer Member cards within the checkout process. The partnership will erase the need to provide their payment and billing data manually, boosting merchant approval and conversion rates.
Skipify partners with Amex
Skipify will launch its technology exclusively on American Express, after which it will identify Amex customers using their email addresses. The technology will also allow users to link eligible Amex cards during the checkout process with the merchants that choose to participate in this initiative.
The solution achieved through the partnership will also remove the need for having customers manually key in their payment and billing information. The move will make the checkout process convenient and make it a seamless experience.
Skipify will be working with financial institutions to collect and store the eligible payments by customers. After a customer completes checkout, the platform keeps the billing address data on file. In the case of merchants, this initiative will reduce the number of abandoned carts and grant high authorization rates.
Merchants will enjoy the benefits of this deal despite the channel, platform, or processor used. The release of this Card Linking feature is among the product innovations that are part of Skipify. Skipify will expand the offerings available by securing more partnerships with financial institutions by the end of the year.
Amex and Skipify work together to benefit users
In early 2022, Amex Ventures, the venture capital division for American Express, secured an investment in Skipify. Amex Ventures and Skipify will work with the corporate business units at American Express and other key sponsors to secure the benefits of the Skipify platform to members of American Express.
The CEO and founder of Skipify, Ryth Martin, noted that American Express was a strategic partner for the company. The partnership will also guarantee that thousands of merchants can access the solutions offered by the card.
“From Day One, American Express has been an amazing partner. 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,” Martin said.
The SVP and Global Head of Amex Ventures, Matt Sueoka, said that Card Linking was a unique example of the customer value and innovation available in the sector. The opportunities available in the industry could lead to startup firms such as Skipify securing partnership deals with Amex Ventures.
Sueoka also said that Amex Ventures would work with Skipify to boost its relationships with customers from the two institutions. The move will also guarantee that the digital shopping experience available for customers will be secure and convenient, granting it a competitive edge over other players in the market. American Express also partnered with the Plaid data network recently for API-based integration.