Synchrony announced that merchants will now be able to offer a short-term, no interest installment option, Synchrony SetPay pay in 4, via the Clover point-of-sale and business management system from Fiserv Inc. This buy now, pay later (BNPL) offering will further expand the reach of Synchrony's innovative payments and financing options and enable select merchants that use Clover to accelerate growth while providing more choice and flexibility for consumers – especially at the point of sale. With more than one-third of shoppers stating they are more likely to seek additional financing options now versus two years ago, ?Synchrony's SetPay pay in 4 installments offering provides customers with the ability to make four equal, interest-free payments for purchases typically between $40 and $500 with the first payment due at checkout. The offering will be part of the Pay with Synchrony app available on the Clover App Market for participating merchants using any Clover device.

This app will be the first time that a combined private label credit card and a BNPL solution will be available to small merchants on the Clover platform. Rad Air Complete Car Care & Tire Centers, an Ohio-based car and tire servicing franchise, is implementing SetPay to offer customers a simple and flexible way to finance purchases with predictable, equal payments over a set period of time. Rad Air has worked with Synchrony since 2014 as a member of the Synchrony Car Care network, which helped them build a loyal customer following and increase sales volume.

Synchrony offers a broad suite of revolving credit and installment loan options in a variety of channels, including SetPay pay in 4, SetPay monthly installment loans for up to 84 months, and a variety of equal payment solutions offered through revolving credit programs.