App Provides Additional Platform for 22,000+ Automotive Merchants to Drive Awareness and Engagement

Dateline:
STAMFORD, Conn.

Public Company Information:
NYSE: SYF

STAMFORD, Conn.--(BUSINESS WIRE)--Synchrony Financial (NYSE:SYF), a premier consumer financial services company with more than 80 years of retail heritage, announces the CarCareONE^SM mobile application that allows CarCareONE’s millions of credit cardholders to access account servicing, a location finder, and offers such as special financing, on their smartphones. The free app, available in the App Store and Google Play, connects CarCareONE’s millions of cardholders to more than 22,000 automotive merchants via their smartphones. To see participating partners, download the app or visit www.mysynchrony.com/automotive.

Through the CarCareONE^SM consumer financing program, Synchrony Financial has been helping motorists get back on the road for more than 20 years by making sure they have options to pay for needed repairs, services, and parts. The CarCareONE mobile app provides an integrated mobile solution that delivers convenience for customers and value for automotive merchants. The app builds upon Synchrony Financial’s existing mobile solutions for the entire credit lifecycle, from acquisition to servicing and loyalty to payments.

“Our CarCareONE app offers a new platform for our automotive merchants to engage with their customers wherever they are,” said Glenn Marino, executive vice president & CEO of Synchrony Financial’s Payment Solutions platform. “We know that financing is an important consideration for drivers dealing with an unexpected repair or routine maintenance, and this innovative app provides CarCareONE cardholders a useful tool to manage their account, locate services for all their auto maintenance needs, and find valuable offers from our network of retailers and service shops across the country.”

Synchrony Financial’s fourth annual Major Purchase Consumer Study found that in the automotive sector, 76% of respondents surveyed agree that financing makes large purchases more affordable. Combined with the rapid growth in mobile shopping – almost 50% of U.S. consumers report using their mobile phone for shopping activities¹ – the CarCareONE app will be popular with both customers and merchants.

The CarCareONE application is the result of Synchrony Financial’s strategic partnership with mobile developer GPShopper, which was announced earlier this year. This is also one of the first native mobile applications launched by Synchrony Financial, meaning it is installed directly onto a mobile device, delivering optimal performance and taking advantage of device features like GPS and ‘tap to call’ to offer a seamless user experience and enhanced functionality. The app allows users to find the automotive merchants closest to their location – extremely helpful in the case of an emergency maintenance issue – or they can type in an address or zip code to find a merchant. The mobile account servicing in the CarCareONE app, which allows users to check their balances, view recent transactions and make payments, is easy to use, with the same look and feel of the existing CarCareONE mobile and online sites and the same log-in credentials.

“The modern consumer is always on the go, using their smartphone as an essential tool in managing their daily lives,” said Alex Muller, CEO of GPShopper. “By mobilizing the CarCareONE experience Synchrony is not only showing retail innovation, but an understanding of the importance of mobile applications in providing utility and value in the customer journey.”

Learn more about Synchrony Financial’s digital innovation at Money 20/20, October 25-28, 2015 in Las Vegas, NV. Visit us at Booth #2114 to see how we engage the digital customer and our CEO, Margaret Keane, will moderate a panel discussion on “The Retail Engagement Journey: Mobile, Local & Personalized.”

About Synchrony Financial

Synchrony Financial (NYSE: SYF) is one of the nation’s premier consumer financial services companies. Our roots in consumer finance trace back to 1932, and today we are the largest provider of private label credit cards in the United States based on purchase volume and receivables*. We provide a range of credit products through programs we have established with a diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers to help generate growth for our partners and offer financial flexibility to our customers. Through our partners’ over 300,000 locations across the United States and Canada, and their websites and mobile applications, we offer our customers a variety of credit products to finance the purchase of goods and services. Synchrony Financial (formerly GE Capital Retail Finance) offers private label and co-branded Dual Card™ credit cards, promotional financing and installment lending, loyalty programs and FDIC-insured savings products through Synchrony Bank. More information can be found at www.synchronyfinancial.com, facebook.com/SynchronyFinancial and twitter.com/SYFNews.

*Source: The Nilson Report (April, 2015, Issue # 1062) - based on 2014 data.

About GPShopper®

GPShopper is the leading integrated mobile platform with retail clients, spanning apparel, cosmetics, appliances and electronics, and many other segments. GPShopper’s solutions empower retailers to garner customer engagement and loyalty by bridging the online and in-store shopping experience with the use of mobile technologies. GPShopper’s apps and mobile platform have been recognized as best-in-class by retail and technology leaders, winning awards from the National Retail Foundation (NRF), Direct Marketing Association (DMA), eTail, AT&T and Intel for excellence in mobile innovation. Forbes named GPShopper one of “Ten Companies Disrupting Their Industries with Technology in 2014”. More information can be found at www.gpshopper.com, twitter.com/GPShopper or LinkedIn.com/company/gpshopper.

©2015 Synchrony Bank/Synchrony Financial, All rights reserved.

¹ Synchrony Financial Insights Study, March 2015

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