Synchrony Expands Partnership with Roto-Rooter to Provide Access to Financing for Plumbing Services

Rhea-AI Summary

Synchrony (NYSE: SYF) expands partnership with Roto-Rooter, offering new financing options and in-home digital sales tool. This innovative approach has led to an increase in monthly sales for the past decade, with a new multi-year agreement currently being rolled out to franchise and contractor locations.

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• Expanded partnership with Roto-Rooter provides flexible financing options for customers, leading to increased monthly sales for the past decade.
• Innovative in-home digital sales tool and new financing strategies have empowered technicians to offer flexible payment and promotional financing options quickly and easily, driving customer loyalty and repeat purchases.

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• None.

Synchrony's Financing Tools Helped Roto-Rooter Grow Monthly Sales for the Past Decade

STAMFORD, Conn., July 28, 2023 /PRNewswire/ -- Synchrony (NYSE: SYF), a leading consumer financing company, today announced an expanded partnership with Roto-Rooter, the leading provider of plumbing and drain cleaning services, to help homeowners with new financing options for their home repair needs. This partnership, which began a decade ago, provides customers with a private label credit card which offers flexible financing options, including promotional financing.

Together, Synchrony and Roto-Rooter developed an innovative in-home digital sales tool for technicians to offer financing. Thanks to the implementation of this tool and new financing strategies, technicians are able to offer customers flexible payment and promotional financing options quickly and easily, making it easier to do necessary repairs on their home. This flexibility led to the negotiation of a new multi-year agreement, which Synchrony is currently rolling out to Roto-Rooter's franchise and contractor locations.

This expanded partnership empowers Roto-Rooter business owners to provide flexible payment options to support immediate and urgent situations that may arise in their customers' homes. Additionally, it offers consumers a dedicated credit card that enables repeat purchases for services or major jobs, further streamlining the payment process and fostering customer loyalty.

"Embracing new digital ways to manage key business processes like financing services allows companies like Roto-Rooter to uncover expanded ways to generate sales and help close more deals," said Curtis Howse, CEO of Home & Auto, Synchrony. "We look forward to continuing our long-standing relationship with Roto-Rooter and helping their business owners increase sales and drive loyalty by offering the financing options that customers need."

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 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

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SOURCE Synchrony

FAQ

What is Synchrony's ticker symbol and what is the expanded partnership with Roto-Rooter about?

Synchrony's ticker symbol is SYF. The expanded partnership with Roto-Rooter involves offering new financing options and an in-home digital sales tool to drive increased sales and customer loyalty.

How has the partnership with Synchrony impacted Roto-Rooter's sales?

The partnership has led to increased monthly sales for the past decade, with a new multi-year agreement currently being rolled out to franchise and contractor locations.

What benefits does the partnership offer to Roto-Rooter business owners and consumers?

The partnership empowers Roto-Rooter business owners to provide flexible payment options for immediate and urgent situations, while also offering consumers a dedicated credit card for repeat purchases, streamlining the payment process and fostering customer loyalty.