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Synchrony Financial, Lowe's Extend Ties for Better Services

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Synchrony FinancialSYF has announced its extended multi-year collaboration with Lowe's Companies, Inc. LOW , highlighting the company's commitment to provide better valuable benefits as well as various purchasing options to Lowe's customers.

With this partnership extension, Synchrony would be managing and servicing the consumer and commercial credit card programs for Lowe's customers at more than 1,740 U.S. stores and also on Lowes.com. These programs help boost the sales through a solid consumer offering, which even includes a 5% off on a daily basis to all cardholders along with special promotional offers.

The credit partner relationship of these two companies began in 1979 with a Lowe's store card. It has constantly evolved with time and expanded its product portfolio with multiple offerings for consumers and business houses. Synchrony consistently endeavors to make strategic investments in Lowe's program for advancing technological capabilities, which in turn, will make the consumer experience hassle-free. The technological advancements include the Synchrony Plug-in (SyPI), which enables mobile in-app commerce easier along with an in-store digital credit app that taps into the power of mobile for providing quick financial options to users.

The company believes that this partnership shows its innovative prowess with respect to retail financial services capabilities. Synchrony backs three credit cards, available through Lowe's, namely the Lowe's Advantage Card, the Lowe's Business Account and Lowe's Accounts Receivable.

Meanwhile, Lowe's is focused on meeting customer expectations and providing the best value to them. Both companies have been working together for more than 40 years and are optimistic about improving their skills to serve customers in a better way in the future.

Synchrony has been extremely active when it comes to business expansion through partnerships. In July, the company renewed its collaboration with PayPal Holdings, Inc. PYPL , which made it an exclusive issuer of the PayPal credit online consumer financing program in the United States.

Shares of this Zacks Rank #3 (Hold) company have lost 5.8% in the past year, narrower than the industry 's decline of nearly 9%.

Stocks to Consider

Investors looking for a few better-ranked stocks in the same sector may check out On Deck Capital, Inc. ONDK and Athene Holding Ltd. ATH , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here .

On Deck Capital operates as an online platform for small business lending in the United States, Canada and Australia. It managed to deliver positive results in three of the trailing four quarters with an average beat of 58.3%.

Athene, a retirement services company, issues, reinsures and acquires retirement savings products in the United States, the District of Columbia and Germany. It delivered an average trailing four-quarter positive earnings surprise of 15.03%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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