Synchrony Partners with Atlanticus on Preferred Second Look Financing Program

Synchrony Partners with Atlanticus on Preferred Second Look Financing Program | Image Credit: © Atlanticus

Synchrony—a consumer financial services company that provides the CareCredit credit card—has announced an enhanced partnership with Atlanticus Holdings Corporation to deliver Synchrony merchants and partners a preferred second look financing solution designed to easily offer more customers access to credit, helping to increase merchants' sales and brand loyalty.

Atlanticus, through its bank partnerships, facilitates second look point-of-sale consumer credit programs spanning general purpose credit cards, private label credit cards, and installment loans predominately under the Fortiva brand.

Under this multi-year partnership, the program managed by Atlanticus will be the preferred second look financing solution for private label credit cards and installment loan products across Synchrony businesses, the companies state. Synchrony merchants, including small businesses, healthcare providers and retail partners, will now have a streamlined enrollment process, a system designed to prioritize ease of use and security, and favorable merchant pricing with Atlanticus.

"Synchrony and Atlanticus have partnered since 2019 to support merchants across industries in maximizing their growth potential by responsibly offering financing solutions to more customers," Florin Arghirescu, senior vice president and chief product officer at Synchrony, says in a press release. "This partnership aligns with our mission to help merchants and providers build loyalty through flexible products, capabilities and a great customer experience."

The availability of this solution is expected to attract a broader customer base, including those financially underserved and those interested in general purpose credit cards, private label credit cards and installment loan product offerings made available through the program. This collaboration will enable consumers who may not receive offers from Synchrony to obtain an instant second look for a credit or financing product.

"We are excited to expand our partnership with Synchrony to be the preferred second look financing platform for private label credit cards and installment loan products," adds David Caruso, chief commercial officer at Atlanticus. "This partnership furthers the ability to offer inclusive financial solutions, allowing our merchant partners to say, 'yes' more often."

For more than 25 years and through changing economic cycles, Atlanticus has leveraged proprietary analytics and innovative technology to enable its bank partners to offer fair credit products to meet the financial needs of everyday Americans, the company states.

Since 2019, Synchrony has offered multi-source financing solutions to merchants and partners across the enterprise in the form of private label credit cards, general purpose credit cards and short term and long term installment loan products through one seamless, digital application. CareCredit is one of the dental industry's first credit cards for health and wellness.