Synchrony Announces Integration with Adobe Commerce to Support Merchants with Innovative Financing Options
Rhea-AI Summary
Synchrony (NYSE: SYF) has announced a strategic integration with Adobe Commerce to enhance merchant financing options. The integration enables thousands of merchants using Adobe Commerce platforms to offer Synchrony credit cards with extended term promotions and Pay Later installment financing at online checkout.
The collaboration aims to provide small and medium-sized businesses with flexible payment solutions to help build customer relationships and drive business growth. According to Adobe's Sr. Director of Content & Commerce Partners, flexible financing options have demonstrated positive impacts on average order size and customer retention.
Positive
- Integration with Adobe Commerce expands Synchrony's merchant reach
- Potential for increased average order sizes through flexible payment options
- Enhanced customer retention through extended financing options
Negative
- None.
News Market Reaction – SYF
On the day this news was published, SYF declined 2.19%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
In today's competitive market, the ability to provide customers with longer-duration, convenient payment options is essential. With this integration, thousands of merchants that host websites on Adobe Commerce can offer the Synchrony product suite to accept Synchrony credit cards with extended term promotions and offer Pay Later installment financing at checkout online.
"Small and medium sized businesses are the backbone of the
"Flexible financing options have been shown to increase average order size and encourage repeat business," said Jason Knell, Sr. Director, Content & Commerce Partners at Adobe. "Synchrony's integration with Adobe Commerce to offer more financing options magnifies growth opportunities for our joint merchants by enhancing the shopping experience."
Synchrony single and multi-product eCommerce solutions are designed to enable business growth and help increase sales for online businesses on leading eCommerce platforms. To learn more, visit: https://www.synchrony.com/business/ecommerce-solutions.
About Synchrony
Synchrony (NYSE: SYF) is a premier consumer financial services company delivering one of the industry's most complete digitally-enabled product suites. Our experience, expertise and scale encompass a broad spectrum of industries including digital, health and wellness, retail, telecommunications, home, auto, outdoor, pet and more. We have an established and diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers, which we refer to as our "partners." We connect our partners and consumers through our dynamic financial ecosystem and provide them with a diverse set of financing solutions and innovative digital capabilities to address their specific needs and deliver seamless, omnichannel experiences. We offer the right financing products to the right customers in their channel of choice. For more information, visit www.synchrony.com.
Media Contact
Tyler Allen
Tyler.Allen@syf.com
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SOURCE Synchrony Financial
FAQ
What financing options does Synchrony (SYF) offer through the Adobe Commerce integration?
How does the Synchrony (SYF) and Adobe Commerce integration benefit merchants?
When will the Synchrony (SYF) Adobe Commerce integration be available?
Which businesses can access Synchrony's (SYF) financing solutions through Adobe Commerce?
