SYNCHRONY FINANCIAL Trial With Synchrony General Purpose Credit Cards to Test Viability of Browser Extension
STAMFORD, Conn., Jan. 17, 2024 /PRNewswire/ -- Synchrony (NYSE: SYF), a leading consumer finance company, has announced that it is testing a browser extension that automatically prompts cardholders during the checkout process to use a Synchrony credit card and provides a virtual card for that purchase. The initial launch is designed for Synchrony's General Purpose Credit Cards on Chrome desktop browsers with the intention to scale the capability to more Synchrony credit cards if successful.
The goal of the extension is two-pronged: For Synchrony, it is designed to increase sales completed by Synchrony cardholders at Synchrony merchants; For consumers, it is about streamlining a customer experience to make online shopping faster and easier, ultimately providing consumers with the best value, rewards, and loyalty for that purchase. Synchrony General Purpose cardholders can add the Synchrony browser extension to their Chrome browser from the Chrome Web Store. Post-authentication, they will be provided a tokenized, virtual card number for seamless, secure payment online.
"Synchrony is committed to rapidly innovate to stay competitive as market demands evolve," said Florin Arghirescu, SVP, Chief Product Officer, Synchrony. "This innovation provides a seamless way for merchants to make online checkout easier and more secure for their customers, driving more sales."
This concept was developed during a "Bolt Session," a one-day rapid prototyping sessions that includes a cross-functional approach to innovate a solution focused on solving a specific problem, with Synchrony's Product Incubation Team.
Synchrony's Incubation Team is focused on building products and solutions to meet the needs of high impact trends that accelerate business transformation – working at the intersection of strategy, design and technology. Using a data-driven approach and intelligent workflows, the team rapidly designs, builds and tests a Minimum Viable Product (MVP). Through a toolbox of ideation methodologies, the team builds products for partners and cardholders to test, experiment and use. The goal is to understand the impact emerging technologies will have on how people will live their lives in the future. In the past year, the team has explored use cases for trends like Generative AI, Web 3, and embedded finance.
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 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
