Sam's Club (WMT) and Synchrony (SYF) Extend Strategic Credit Card Program Collaboration with Multi-Year Agreement
Sam's Club and Synchrony announced a multi-year extension of their strategic financing and credit card relationship that aims to drive incremental value to Sam's Club Members by redesigning and enhancing the card rewards.
As part of the extension, Synchrony will continue to issue, manage, and service the redesigned and recreated consumer and commercial credit card programs for Sam's Club at the retailers' almost 600 locations across the U.S. and Puerto Rico as well as on SamsClub.com.
This year the two organizations celebrate a 25-year collaboration that has expanded to multiple offerings that provide valuable benefits to both consumers and small businesses. Synchrony continues to make strategic investments in the Sam's Club program to design digital and in-Club experiences. For example, the Sam's Club credit capabilities card is embedded into the Sam's Club app through the Synchrony Plug-in (SyPI) to make applying, buying and managing Members' accounts easier. Synchrony has also integrated with Sam's Club's innovative "Scan & Go" technology by allowing Members to apply and seamlessly purchase with their Sam's Club credit card.
"We are pleased to renew our longstanding relationship with Synchrony and keep delivering value to our Members," said Mike Cook, Senior Vice President and Assistant Treasurer of Walmart. "The Sam's Club credit card helps us deepen relationships and loyalty with our Members who expect their shopping experience to be easy, secure and seamless. Specifically, the Sam's Club credit card gives Members the value they seek including cash back on purchases."
"Our long-term strategic relationship with Sam's Club demonstrates the power of Synchrony's unique financial services and digital capabilities. We look forward to continuing to provide the millions of Sam's Club Members and cardholders with the value and differentiated experiences they expect," said Tom Quindlen, Executive Vice President and CEO of Retail Card at Synchrony. About Sam's ClubSam's Club®, a division of Walmart Inc. (NYSE: WMT), is a leading membership warehouse club offering superior products, savings and services to millions of members in nearly 600 clubs in the U.S. and Puerto Rico. Now in its 38th year, Sam's Club continues to redefine warehouse shopping with its highly curated assortment of high-quality fresh food and Member's Mark items, in addition to market leading technologies and services like Scan & Go, Curbside Pickup and home delivery service in select markets. To learn more about Sam's Club, visit the Sam's Club Newsroom, shop at SamsClub.com, and interact with Sam's Club on Twitter and Facebook.