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.
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 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