Synchrony announced on October 30, 2024, a long-term extension of its nearly 25-year partnership with JCPenney. This renewal ensures Synchrony will continue to manage and service rewards-rich credit cards for JCPenney customers across its more than 650 stores and online.
The expanded partnership now includes Synchrony Pay Later, a buy now, pay later financing option, specifically for fine jewelry purchases over $300. This new offering provides customers with flexible payment terms, including 6, 12, or 24-month installment payments.
The addition of Synchrony Pay Later at JCPenney aims to meet evolving customer needs and enhance purchasing flexibility, particularly in the retailer's fine jewelry business. This strategic move reinforces Synchrony's commitment to its partners' growth and differentiation.
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