Synchrony and The Container Store Extend Consumer Financing Partnership

Rhea-AI Summary

Synchrony and The Container Store announced an expansion of their consumer financing partnership, integrating a digital private-label credit card and mobile wallet into The Container Store's mobile app check-out capabilities. The credit card can be used with the Organized Insider loyalty program, offering exclusive offers and benefits. Existing and new customers will receive special financing options and savings.

Positive

• Expansion of consumer financing partnership between Synchrony and The Container Store
• Integration of digital private-label credit card and mobile wallet into The Container Store's mobile app check-out capabilities
• Exclusive offers and benefits for cardholders through the Organized Insider loyalty program
• Special financing options and savings for existing and new customers

Negative

• None.

Private Label Credit Card to Integrate with Mobile Check-Out Capabilities

STAMFORD, Conn. and COPPELL, Texas, June 8, 2023 /PRNewswire/ -- Synchrony (NYSE: SYF), a premier consumer financial services company, and The Container Store Group, Inc. (NYSE: TCS), the leading specialty retailer of organizing solutions, custom spaces, and in-home services, today announced an expansion and extension of their consumer financing partnership. The multi-year agreement will include integration of a digital private-label credit card and mobile wallet into The Container Store's mobile app check-out capabilities.

The Container Store's credit card can be used in conjunction with its Organized Insider loyalty program, allowing cardholders to receive exclusive offers and benefits when they shop with The Container Store credit card. Existing cardholders and new customers will continue to receive offers for special financing, including deferred interest financing with a variety of term options (with minimum monthly payments required, subject to credit approval), plus additional benefits and savings of the newly enhanced card program. The Container Store customers can also check if they prequalify for credit with no impact to their credit score and apply for the card directly from their personal devices.

"We are committed to offering our customers the best retail and purchasing experience. By partnering with Synchrony, we are making it fast and easy to provide shoppers with more benefits and flexible financing to meet all budget needs," said Jeff Miller, Chief Financial Officer, The Container Store. "We aim to seamlessly offer our customers the financing options they need and deliver the rewards they deserve."

"The Container Store shoppers value custom solutions – from closet organization to tailor-made living spaces – and that's exactly what we at Synchrony seek to offer. A unique financing program that meets the needs of our partners and their customers," said Darrell Owens, Senior Vice President, Synchrony. "We look forward to continuing to innovate alongside The Container Store to serve their customers and make their home organizing solutions a reality."

About The Container Store
The Container Store Group, Inc. (NYSE: TCS) is the nation's leading specialty retailer of organizing solutions, custom spaces, and in-home services – a concept they originated in 1978. Today, with locations nationwide, the retailer offers more than 10,000 products designed to transform lives through the power of organization Visit www.containerstore.com for more information about products, store locations, services offered and real-life inspiration.

About Synchrony
Synchrony (NYSE: SYF) is a premier consumer financial services company delivering one of the industry's most complete digitally-enabled product suites. Our experience, expertise and scale encompass a broad spectrum of industries including digital, health and wellness, retail, telecommunications, home, auto, outdoor, pet and more. We have an established and diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers, which we refer to as our "partners." We connect our partners and consumers through our dynamic financial ecosystem and provide them with a diverse set of financing solutions and innovative digital capabilities to address their specific needs and deliver seamless, omnichannel experiences. We offer the right financing products to the right customers in their channel of choice. For more information, visit www.synchrony.com and Twitter: @Synchrony.

Contacts

Lauren Devilbiss
Synchrony
lauren.devilbiss@syf.com
240-814-5825

Katelyn Clinton
The Container Store Group, Inc.
publicrelations@containerstore.com
972-538-6000

 

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SOURCE Synchrony

FAQ

What is the partnership between Synchrony and The Container Store about?

The partnership between Synchrony and The Container Store is an expansion of their consumer financing partnership.

What will be integrated into The Container Store's mobile app?

A digital private-label credit card and mobile wallet will be integrated into The Container Store's mobile app check-out capabilities.

What benefits do cardholders receive through the Organized Insider loyalty program?

Cardholders receive exclusive offers and benefits through the Organized Insider loyalty program.

What financing options are available for customers?

Customers have access to special financing options and savings.