Synchrony Renews 30-Year Relationship Dedicated to Enhancing Credit and Shopping Experiences with Sam's Club
Rhea-AI Summary
Synchrony has announced a multi-year extension of its 30-year strategic credit card partnership with Sam's Club. The company will continue as the exclusive issuer of consumer, business, and commercial credit cards for Sam's Club across its 600 locations in the U.S. and Puerto Rico, including online and mobile platforms.
The partnership focuses on enhancing shopping and credit experiences through key features including: integration with Sam's Club's Scan & Go™ technology for seamless checkout, digital-first solutions through Synchrony's SyPI and dApply technology, and the Sam's Cash™ rewards program. The Sam's Club Mastercard® offers 5% back on fuel (up to $6,000 annually), 3% on dining, and 1% on other purchases. Plus members can earn up to 5% total rewards on eligible Sam's Club purchases.
Positive
- Multi-year extension of a successful 30-year partnership secured
- Exclusive credit card issuer status maintained for 600 locations
- Integration with innovative Scan & Go™ technology enhancing customer experience
- Competitive rewards program offering up to 5% back on fuel and purchases
Negative
- None.
News Market Reaction – SYF
On the day this news was published, SYF declined 0.07%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Synchrony Signs Multi-Year Extension of Strategic Credit Card Program with Sam's Club
As part of the extension, Synchrony will continue to be the issuer of consumer, business and commercial credit card programs for Sam's Club at the retailer's 600 locations across the
Synchrony will continue to collaborate with Sam's Club to offer seamless member experiences and invest in strategic technology that helps members more easily access the products and services they need and want while earning rewards to enhance their shopping experience. Key highlights include:
- Seamless Payment and Checkout Experience: Synchrony's integration with Sam's Club's innovative Scan & Go™ technology where members can scan items, seamlessly purchase with their Sam's Club credit card using their mobile devices, skip the checkout line and simply exit the club through the exit arches.
- Digital First: Synchrony's patented SyPI and patent-pending dApply technology allow members to easily apply for credit, make transactions and service their account all within the Sam's Club app.
- Sam's Cash™:
- Recognized by Money Magazine as the Best for Gas Cash Back Credit Card for the past three years, Sam's Club Mastercard® cardholders can earn an industry leading
5% back in Sam's Cash on fuel (up to$6,000 3% on dining, and1% on other purchases. - Plus members earn
3% back in Sam's Cash™ on Sam's Club purchases when they use their Sam's Club Mastercard® and another2% back from their Plus membership, for a total of up to5% rewards on eligible purchases. - These rewards are automatically loaded into membership accounts and can be used towards future purchases made both online and in-club, or exchanged for cash back.
- Recognized by Money Magazine as the Best for Gas Cash Back Credit Card for the past three years, Sam's Club Mastercard® cardholders can earn an industry leading
"Our collaboration with Synchrony is going strong after 30-plus years because we're relentlessly focused on creating the best shopping experience for our members," said Kara Kazazean, Vice President of Financial Services at Sam's Club. "The Sam's Club credit card is designed to make the shopping experience easy, secure, and convenient — all while helping our members earn more."
"Our longstanding relationship with Sam's Club is a model of collaboration, innovation and trust," said Courtney Gentleman, Executive Vice President and CEO of Diversified & Value platform at Synchrony. "With access to the right financing, consumers and businesses thrive. We look forward to continuing to deliver convenience and value to millions of Sam's Club members with every use of their Sam's credit card."
To learn more about Sam's Club and Synchrony's credit card program, please visit: https://www.samsclub.com/content/credit
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:
Angie Hu
Synchrony
angie.hu@syf.com
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SOURCE Synchrony
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