Synchrony and AmSpa Forge Stronger Partnership with Extended CareCredit Discounts for Members

Renewed Partnership between Synchrony and AmSpa

In a significant step towards supporting the growth of the medical spa industry, Synchrony (NYSE: SYF), a leading name in consumer financial services, has renewed its partnership with the American Med Spa Association (AmSpa). This collaboration, originally established in 2018, aims to provide enhanced financial solutions for AmSpa's members, a move that underlines each organization's commitment to fostering industry growth and improving member benefits.

Enhanced Financial Opportunities

Starting January 1, 2026, the renewed partnership will introduce special tiered merchant rates for AmSpa members who choose to offer CareCredit, facilitating easier transactions for patients seeking aesthetic procedures. This new arrangement promises to afford over 4,000 AmSpa members reduced transactional fees upon enrolling in the program. This noteworthy benefit emphasizes the importance of affordability and accessibility in the medical spa sector, enabling both healthcare providers and their clients to engage in transactions more efficiently.

Jeff Miller, Senior Vice President and Specialty Wellness General Manager at Synchrony, expressed that the rapid growth of the medical spa industry necessitates innovative financing options that empower small to mid-sized businesses. He stated, "Through our partnership with AmSpa, we're delivering access to CareCredit with reduced transactional fees. This isn't merely about financing; it's about investing in the success of AmSpa members and rewarding their loyalty with tangible cost savings."

A Thriving Industry

Recent statistics have shown the immense growth potential of the medical spa industry. According to the latest State of the Industry Report from AmSpa, this sector was valued at more than $17 billion in 2024 and is projected to grow by over $1 billion each year. The report highlighted that patients typically spend an average of $527 per visit to medical spas, highlighting the critical need for flexible and accessible payment solutions for various treatments.

AmSpa CEO, Adam Reinebach, emphasized the role of this partnership in promoting financial power among practitioners, allowing them to reinvest in their services, enhance patient care, and ensure sustainable growth for their practices. He stated, "As the leading advocate for the medical spa industry, AmSpa is committed to delivering meaningful advantages that drive our members' success. Our partnership with Synchrony is a key part of that effort."

What CareCredit Offers

CareCredit is designed to provide cardholders with the ability to finance their healthcare expenses over time, especially for aesthetic treatments. By offering diverse financing options, it assists cardholders in managing the costs of achieving desired care. For AmSpa members, CareCredit's seamless integration with practice management systems simplifies both application and payment processes, thereby enabling smoother patient transactions.

With over 24,000 cosmetic and dermatological providers available in the broader network, patients are empowered with numerous options to seek the desired care without the immediate financial burden. The ease of obtaining CareCredit not only supports patients but also fosters loyalty to AmSpa member practices equipped with the financing facility.

Synchrony also plays a vital role in educating patients about their financial options, ensuring they are well-informed when it comes to planning and paying for their care.

Conclusion

The renewed partnership between Synchrony and AmSpa represents a significant development in improving financial accessibility within the medical spa industry. It empowers practitioners and spurs growth, allowing members to focus on enhancing care while ensuring sustainable business practices. This initiative further cements Synchrony’s commitment to facilitating financial opportunities across various sectors, especially as the medical spa industry continues to flourish.

For more information on CareCredit and the financial principles that guide Synchrony, visit CareCredit's website. To learn more about the American Med Spa Association and its offerings, check out their website at AmSpa's official site.