Synchrony's POS Acquisition Underscores Paying Over Time's Appeal Beyond the Cards
Synchrony(SYF) PYMNTS·2024-01-23 00:22
In an age where consumers are grappling with ways to manage debt, but also finance the purchases they need, point-of-sale financing is gaining ground.To that end, and as announced last week, Synchrony will acquire Ally Financial’s point-of-sale financing arm. In terms of reach, Synchrony gets $2.2 billion of loan receivables, where the POS financing is already available at 2,500 merchant locations, and with 450,000 borrowers already in place.Specifically, the deal will give Synchrony greater scale in home i ...