October 24, 2016, 4:35 PM EDT
Synchrony Financial Plug-in Easily Integrates Credit into Retailers’ Mobile Apps
Patent-pending technology provides cardholders seamless access to loyalty, rewards & account management on their smartphones
STAMFORD, Conn.--(BUSINESS WIRE)--To further enhance the mobile shopping experience for cardholders, Synchrony Financial (NYSE:SYF) has introduced a fully-integrated Synchrony plug-in credit feature for the popular mobile apps of leading retail partners. The Synchrony plug-in (‘SyPi’) allows retailers’ credit cardholders to easily shop, redeem rewards, and securely manage and make payments to their accounts via the smartphones they carry with them every day. This added functionality allows cardholders to view their account balance and purchase activity, make a payment and check their available credit for quick and easy purchasing decisions – all within the retailer’s app on their mobile devices. The SyPi credit feature is fully customizable and easily integrated within the retailers’ apps to enhance cardholders’ mobile shopping experience, increasing customer engagement and boosting loyalty. In some instances, the Synchrony plug-in also allows cardholders to receive push notifications and special offers, including access to rewards for convenient redemption in-store or online.
As more than 80% of Americans own a smartphone1 and 78% of smartphone users access a retail site via a mobile app,2 forward-looking retailers understand the importance of offering their most loyal customers a convenient shopping experience through a customized mobile app. According to Synchrony Financial’s sixth annual Digital Study, 55% of survey respondents report they would shop a retailer more often if they received relevant offers on their mobile device, up significantly over the past year.
The Synchrony plug-in has been well received by participating retailers’ mobile shoppers, with positive reviews, nearly 500,000 unique visits, and more than $10 million in account payments to date all via participating retailers’ mobile apps.
”We are committed to offering our retail partners cutting-edge digital capabilities to provide their customers the convenient mobile account management and payment solutions they demand,” said Tom Quindlen, CEO of Synchrony Financial’s Retail Card business platform. “The positive feedback to the Synchrony plug-in from both our retail partners and their customers highlights our leadership in mobile commerce and digital engagement, made stronger by our strategic partnership with GPShopper. We look forward to offering the popular SyPi credit feature through additional retail partners’ mobile apps in the coming months.”
Synchrony Financial is committed to preserving the value and benefits our cards offer – including loyalty and rewards programs and point of sale (POS) discounts. With mobile shopping rising exponentially, Synchrony Financial is increasingly focused on innovative technology to deliver a personalized customer experience through mobile platforms. Our partnership with GPShopper has helped us rapidly develop this patent-pending mobile technology as an integrated component of the digital solutions that we provide to our clients.
“With 90% of consumers’ mobile time spent in apps3 – as opposed to mobile websites – today’s innovative retailers are leveraging their mobile apps to provide engaging experiences that drive customer loyalty” said Maya Mikhailov, CMO of GPShopper.
To learn more about Synchrony Financial’s digital and retail innovation, visit us at Booth #3019 at Money 20/20, October 24-26 in Las Vegas, NV.
About Synchrony Financial
Synchrony Financial (NYSE: SYF ) is one of the nation’s premier consumer financial services companies. Our roots in consumer finance trace back to 1932, and today we are the largest provider of private label credit cards in the United States based on purchase volume and receivables4. We provide a range of credit products through programs we have established with a diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers to help generate growth for our partners and offer financial flexibility to our customers. Through our partners’ over 350,000 locations across the United States and Canada, and their websites and mobile applications, we offer our customers a variety of credit products to finance the purchase of goods and services. Synchrony Financial offers private label and co-branded Dual Card™ credit cards, promotional financing and installment lending, loyalty programs and FDIC-insured savings products through Synchrony Bank. More information can be found at www.synchronyfinancial.com , facebook.com/SynchronyFinancial , www.linkedin.com/company/synchrony-financial and twitter.com/SYFNews .
GPShopper is the leading integrated mobile platform with retail clients, spanning apparel, cosmetics, appliances and electronics, and many other segments. GPShopper’s solutions empower retailers to garner customer engagement and loyalty by bridging the online and in-store shopping experience with the use of mobile technologies. GPShopper’s apps and mobile platform have been recognized as best-in-class by retail and technology leaders, winning awards from the National Retail Foundation (NRF), Direct Marketing Association (DMA), eTail, AT&T and Intel for excellence in mobile innovation. Forbes named GPShopper one of “Ten Companies Disrupting Their Industries with Technology in 2014”. More information can be found at www.gpshopper.com , twitter.com/GPShopper or LinkedIn.com/company/gpshopper .
©2016 Synchrony Bank/Synchrony Financial, All rights reserved.
1 Synchrony Financial Digital Study, June 2016.
2 Webbiquity, December 2014
3 Flurry Analytics (August 2015)
4 The Nilson Report (May 2016, Issue # 1087) - based on 2015 data.
Lauren Hand, 917-450-1146