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Paradise for Pets, Peace of Mind for Pet Parents: Synchrony's CareCredit Expands to Pet Paradise Resorts Nationwide

1. CareCredit expands financing options at Pet Paradise for pet services. 2. Partnership expands on Synchrony's existing veterinary financial services. 3. The U.S. pet boarding market is valued at $20 billion yearly. 4. Pet Paradise customers can prequalify for CareCredit without credit impact. 5. Flexible payment options enhance consumer spending on pet care.

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FAQ

Why Bullish?

Increased demand for pet financing can boost SYF's revenue, as seen in past partnerships.

How important is it?

The partnership directly enhances SYF's market presence in pet care financing.

Why Short Term?

Immediate effect expected from increased service usage at Pet Paradise locations.

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SYFNEWDAY
CareCredit can be used to pay for services from dog training to vet care at Pet Paradise resorts., /PRNewswire/ -- Synchrony (NYSE: SYF), a leading consumer financial services company, and Pet Paradise, a premium pet care provider, today announced a new partnership designed to make access to an assortment of care easier for pet parents.  By the end of year, the CareCredit health and wellness credit card will be available to be used at all 60 Pet Paradise locations nationwide to pay for services ranging from dog training to extended boarding stays and day camp packages. The partnership expands the opportunity for pet parents to use convenient financing options to manage their pet expenses over their pet's lifetime. Synchrony's CareCredit can be used to pay for services from dog training to vet care at Pet Paradise resorts "Our partnership with Pet Paradise underscores Synchrony's commitment to the pet resort space and empowering pet parents with flexible financing options," said Jonathan Wainberg, SVP and General Manager, Pet and Co-Brand, Health and Wellness, Synchrony. "These options can be used for a wide range of services to help enhance the quality of life for pets. Our pets do so much for us, and it's important that pet parents have a way to manage their expenses so they can prioritize their pet's health and happiness." As a leading financial solution in the veterinary space, accepted at more than 25,000 veterinarian clinics nationwide, this partnership builds upon Synchrony's long-standing relationship with NewDay Veterinary Care, a network of veterinary hospitals and clinics that is owned and operated within select Pet Paradise resorts. "Partnering with Synchrony expands the options available to Pet Paradise customers to support their pet's wellbeing and care," said Alex Miller, CEO of Pet Paradise. "As pet parents ourselves, we know pets can sometimes bring unexpected expenses. Our collaboration with CareCredit allows us to provide a convenient financing option, helping ensure pet owners can access all the services they need for their pet to live their happiest, healthiest life."The U.S. currently has the largest market share of the global pet boarding market, which is estimated to be $20 billion a year[1]. Additionally, the industry is seeing increased spending in pet daycare and grooming, resulting in pet parents seeking financial options, like CareCredit, to pay for the diverse range of pet care services.Pet parents looking for budget-friendly options to manage expenses can see if they prequalify for the CareCredit credit card in real time, with no impact to their credit score, and apply on any smart device at the provider location or apply over the phone. A credit decision is typically within a few seconds, and if approved, they can use their account to pay for their pet's care right away. CareCredit offers shorter-term and longer-term financing options based on purchase amount, and a user-friendly online calculator that makes it easy for pet parents to quickly estimate monthly payments.About SynchronySynchrony (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.About Pet Paradise and NewDay Veterinary CarePet Paradise has been a trusted provider of complete pet health care for more than 20 years. Conveniently located under one roof, Pet Paradise offers boarding, day camp, grooming, dog training and NewDay Veterinary Care, which emphasizes comprehensive, low-stress care. Headquartered in Jacksonville, Fla., Pet Paradise has 60 resorts, with 21 including NewDay clinics, across 11 states.For more information about Pet Paradise visit petparadise.com or Facebook, Instagram, LinkedIn and YouTube. For more information about NewDay, visit newdayvetcare.com or Facebook, Instagram and LinkedIn.Contacts:Michelle Romero[email protected](626) 250-1415Kristen Majdanics[email protected](904) 363-3330[1]  Jones, Oliver, Dogster, "17 Pet Daycare & Boarding Industry Statistics: 2024 Update," August 19, 2024, https://www.dogster.com/statistics/pet-daycare-dog-boarding-industry-statisticsSOURCE Synchrony Financial WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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