Sam’s Club extends Synchrony partnership across channels
Sam’s Club, the wholesale club store division of Walmart, will keep offering omnichannel payment options through Synchrony.
Sam’s Club is extending its partnership with Synchrony, a provider of credit and financial services and data analytics. As part of the extension, Synchrony will continue to manage and service the credit card programs for Sam’s Club members across the retailer’s nearly 600 stores.
Sam’s Club, which first partnered with Synchrony in 1993, has integrated its platform across all channels. This includes digital services such as online account management, mobile payment capabilities, and support of Sam’s Club Scan and Go self-checkout program.
Under the agreement, Sam’s Club parent Walmart will dismiss its $800 million lawsuit against Synchrony, which had been Walmart’s credit card issuer. The suit, filed in November 2018, claimed breach of contract. Synchrony has reached agreement on the sale of the Walmart loan portfolio it currently services. The portfolio is expected to transfer late Q3 or early Q4 2019.
“We are very pleased to have reached these agreements. Obtaining certainty around the Walmart portfolio and a renewal on Sam’s Club is a great outcome for the company,” said Margaret Keane, president and CEO of Synchrony. “Sam’s Club is a valued and longstanding partner. We look forward to continuing to deliver innovative products and excellent customer service to Sam’s Club members.”
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