In today’s uncertain environment, consumers want one thing: choice. That’s because macroeconomic uncertainty over inflation and interest rates is rocking consumer behavior and affecting big-ticket spend across verticals like home, auto and more, leading consumers to scale back on nonessential retail purchases. But as Synchrony...
The shift toward digital channels in financial services shows no signs of slowing down, as evidenced by the latest earnings results from incumbent banks and financial services providers. During the first quarter, Bank of America logged a staggering 3.4 billion digital logins, with digital sales accounting for half...
Synchrony Financial reported its Q1 earnings Wednesday (April 24), showing broad-based growth throughout its lending and credit platforms, continued momentum in consumer spending and some concern over a decrease in revenue from the upcoming Consumer Financial Protection Bureau (CFPB) late fee ruling. Synchrony CEO Brian...
Synchrony Financial posted fourth-quarter results that showed charge-offs increasing as management pointed to credit normalization in the months ahead, and said the firm was also gaining traction in Pay Later options offered at checkout. Supplemental materials released alongside earnings on Tuesday (Jan. 23) indicated that...
August 31, 2017
From digital to plastic ... and back again, with cash in hand or wallet or digital wallet to boot. PayPal has announced a cash back card with Mastercard. The push into payments in-store shows a bit of truism to the maxim what's old is new again. PYMNTS caught up with Zach Knox, PayPal’s director of Credit Card Programs, to get a sense of how digital and plastic can go hand in hand.
August 18, 2017
It’s Friday, which can only mean one thing — time to see what Sizzled and what Fizzled this week. Sizzle: Retail Sales: Research firms like Seeking Alpha have pointed out that...
April 06, 2017
Unfortunately, there’s no magical crystal ball that can provide a glimpse into the future of retail. Considering all of the new technologies, changing consumer behaviors and innovation taking place across...
November 28, 2023
Apple has reportedly decided to end its credit card partnership with Goldman Sachs. The tech giant has proposed an exit from the contract within the next 12 to 15 months, marking a swift turnaround for a program that was initially extended through 2029, The Wall Street Journal (WSJ) reported Tuesday (Nov. 28). Apple did not immediately […]
October 02, 2023
Bread Financial Holdings is reportedly grappling with challenges as it confronts rising credit losses and uncertainty surrounding late fees. The company’s stock price fell 3.9% as of midday Monday (Oct. 2)...
November 26, 2019
Synchrony Financial said a message was erroneously sent to customers about an Amazon.com card and that a data breach had not occurred, according to a report by Reuters. On Monday...
October 17, 2019
Online payments giant PayPal is teaming with Synchrony Financial to roll out a Venmo co-branded credit card next year, marking a first for the peer-to-peer (P2P) money transfer platform, the...
