October 25, 2016
Patent-pending technology provides cardholders seamless access to loyalty, rewards & account management on their smartphones
October 24, 2016 09:00 AM Eastern Daylight Time - STAMFORD, Conn. - 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 smartphone and 78% of smartphone users access a retail site via a mobile app, 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 Synchrony Financial to 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 apps – 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 them at Booth #3019 at Money 20/20, October 24–26 in Las Vegas, NV.
About Synchrony Financial: