Transaction demonstrates commitment to bringing retail partners best-in-class mobile solutions for enhanced customer engagement, loyalty and analytics
Synchrony Financial (NYSE: SYF), a premier consumer financial services company, today announced that it has acquired GPShopper, an innovative developer of mobile apps that offer retailers and brands a full suite of commerce, engagement and analytic tools. Financial terms of the transaction were not disclosed and it is not expected to have a material impact on financial results.
The transaction further demonstrates Synchrony Financial’s commitment to bringing its partners enhanced digital offerings supported by advanced mobile application development and robust technology, data and analytics. Adding GPShopper’s mobile development expertise will be an integral part of Synchrony Financial’s efforts to further expand its mobile engagement capabilities.
Synchrony Financial announced a strategic investment in GPShopper in January 2015 and the companies have since collaborated on several well-received mobile offerings, including the Synchrony Plug-in or SyPi, a native credit feature that plugs in to a retailer’s mobile app. SyPi allows retailers’ credit cardholders to easily shop, redeem rewards, and securely manage and make payments to their accounts with their smartphones.
Today’s announcement further cements this partnership and will allow for continued development of new mobile commerce focused technologies. The combined mobile commerce and payments capabilities will offer the companies’ retail partners – ranging from the largest national chains and mid-sized retailers to smaller merchants and service providers – innovative solutions that are tailored to their businesses.