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Elan Credit Card is thrilled to share Card ExtendPay ®, a credit card installment lending feature is available to credit card partners and their customers. This exciting new program will allow cardmembers to divide eligible credit card purchases into affordable monthly payments, with no interest and a low fixed monthly fee — all while earning rewards.

“This flexible payment capability is in high demand from consumers. With no additional cost, our credit card partners can bring this exciting new functionality to their customers, enhancing their payment experience and competing with other national issuers,” said John Owens, General Manager of Elan Credit Card.

Card ExtendPay appeals to a broad range of cardmembers, including transactors, those with a higher net worth, and a high credit score. The benefit of this new feature to cardmembers is further apparent in increased sales, balances, and improved retention.

“Card ExtendPay offers highly flexible payment options to help cardmembers manage their purchases and spend in a way that works best for them,” added Owens.

Benefits of Card ExtendPay:

• Provides an option to spread a large purchase over a few months, without incurring the full APR of carrying a balance.
• Ability to also earn credit card rewards, unlike a traditional installment purchase.
• Allows cardmembers to convert purchases on their card into an installment plan that can be paid off over a period of 3-24 months, for an additional fee
• No additional fees or interest beyond the Card ExtendPay fees shown upfront.
• No need to gain approval from a new provider and keep track of yet another account — simply utilize your existing credit card.

This announcement follows the addition of the Paze℠ checkout solution to partners in April. To learn more about Card ExtendPay and other technology enhancements for Elan Credit Card partners, complete the form below.

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