Synchrony's CareCredit Expands Access to Financing for Health & Wellness Providers with New Stripe Partnership
Rhea-AI Summary
Synchrony (NYSE: SYF) announced a new integration that will allow U.S. health and wellness providers and retailers using Stripe to offer CareCredit financing directly within their existing payment platform, with activation handled online in Stripe and no additional technical integration required.
According to Synchrony, more than 12 million CareCredit cardholders and new approved applicants will gain expanded opportunities to use CareCredit for eligible health and wellness purchases through participating Stripe providers. The initial phase covers standard CareCredit card transactions and six‑month promotional financing options, aiming to streamline checkout and reduce operational complexity for providers.
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News Explained
Providers can enable CareCredit from their Stripe Dashboard, while customers can use an existing card or apply during checkout; Stripe will also centralize related reporting, reconciliation, and chargeback management.
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Health and wellness providers and retailers using Stripe can soon offer CareCredit to customers directly within their existing payment platform, making it easier to offer trusted financing while expanding access for more than 12 million CareCredit cardholders.
Key Highlights:
- Simplified Provider Experience: Health and wellness providers using Stripe will soon be able to activate CareCredit directly online within the payment platform they already use, with no additional integration required.
- Expanded Patient Access: More than 12 million CareCredit cardholders and new approved applicants will have more opportunities to use their card for health and wellness purchases through participating Stripe providers.
"As more health and wellness purchases move online, providers need payment solutions that are both simple to implement and easy for patients to use," said Beto Casellas, Executive Vice President and Chief Executive Officer of Health & Wellness at Synchrony. "By integrating CareCredit directly into Stripe, we're making it easier for providers to offer trusted financing while helping more than 12 million CareCredit cardholders access the care and wellness products they need through the providers they already trust."
By embedding CareCredit into the platforms that providers already use, the partnership simplifies implementation, supports a streamlined checkout experience, and helps providers offer financing with reduced operational complexity.
For more information, please visit CareCredit.com.
About Synchrony
Synchrony (NYSE: SYF) is a leading consumer financing company that has been at the heart of American commerce and opportunity for nearly a century. Synchrony delivers credit and banking products that empower tens of millions of consumers to improve their financial lives and access what matters most. Leveraging innovative solutions that are shaping the future of retail commerce, Synchrony supports the growth and success of some of the nation's most respected brands, alongside hundreds of thousands of small and midsize businesses, including health and wellness providers. Committed to excellence in service and culture, Synchrony is honored to be ranked the #1 Best Company to Work For® in the U.S. by Fortune magazine and Great Place to Work®. For more information, visit www.synchrony.com.
For more information, visit Synchrony.com.
FAQ
What does the new Stripe integration enable?
It will enable H&W providers using Stripe to easily activate CareCredit as a payment option in their online checkout. This simplifies their payment ecosystem by adding a trusted financing choice directly through the platform they already use, with no new integration required.
How can providers begin offering CareCredit through Stripe?
Providers using Stripe can activate CareCredit directly within their Stripe Dashboard. Once enabled, their customers can use an existing CareCredit card or apply for one during the checkout process.
What benefits does the partnership provide consumers?
Consumers gain access to additional health and wellness providers where they can use their CareCredit card online, expanding financing options for eligible purchases.
How does the Stripe integration improve the merchant experience?
The integration enables Stripe health and wellness providers to activate CareCredit through the payment platform they already use, reducing implementation complexity and creating a more streamlined onboarding and on-going operational experience. Providers leveraging CareCredit via their Stripe integration will have one place to go for all their payment methods for enablement, reporting, reconciliation, chargebacks, etc.
Media Contact:
Tyler Allen
Synchrony
Tyler.Allen@syf.com
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SOURCE Synchrony Financial