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Synchrony Renews 30-Year Relationship Dedicated to Enhancing Credit and Shopping Experiences with Sam's Club

1. Synchrony extends strategic relationship with Sam's Club for multi-year credit card program. 2. Continuous collaboration aims to enhance shopping experience and member rewards. 3. Sam's Club Mastercard offers 5% back on gas and 3% on dining purchases. 4. The relationship reinforces Synchrony's position in digital-enabled financial services market. 5. Longstanding partnership strengthens loyalty and customer engagement for both brands.

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Why Bullish?

This partnership with a major retailer like Sam's Club can drive growth and customer engagement. Similar past collaborations have resulted in increased sales and stock performance.

How important is it?

The partnership highlights Synchrony's role in consumer financing, which could lead to market growth. Retail partnerships often result in expanded customer bases and steady income streams.

Why Long Term?

The extension solidifies a key revenue source. Long-term contracts in retail partnerships usually yield sustained benefits.

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Synchrony Signs Multi-Year Extension of Strategic Credit Card Program with Sam's Club , /PRNewswire/ -- Synchrony, a leading financing partner for many of America's most iconic brands, today announced a new multi-year extension of its more than 30-year strategic credit card relationship with Sam's Club, building on a longstanding collaboration dedicated to transforming the shopping and credit experiences and creating value for Sam's Club members. 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 U.S. and Puerto Rico, on SamsClub.com and in the Sam's Club mobile app. 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 annually), 3% on dining, and 1% 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 another 2% back from their Plus membership, for a total of up to 5% 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. "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 HuSynchrony[email protected] SOURCE Synchrony WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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