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Synchrony Partners with One Pay, Renews Relationship with Amazon
ByAinvest
Wednesday, Jul 23, 2025 2:20 am ET1min read
Synchrony has announced a partnership with One Pay to power a new credit card program with Walmart, and renewed its relationship with Amazon to launch Synchrony Pay Later, a Buy Now Pay Later offering for Amazon transactions of $50 or more for approved customers. The Fly notes that other BNPL providers include Klarna and Affirm.
Synchrony Financial (SYF) has announced strategic partnerships that will expand its Buy Now Pay Later (BNPL) offerings. During its Q2 earnings conference call, the company revealed a collaboration with fintech company One Pay to exclusively power a new credit card program for Walmart (WMT) customers. Additionally, Synchrony has renewed its relationship with Amazon to launch Synchrony Pay Later, a BNPL offering for Amazon transactions of $50 or more for approved customers [1].The partnership with One Pay signifies a significant step in Synchrony's efforts to expand consumer financing options. This new credit card program will be exclusively available to Walmart customers, leveraging One Pay's fintech expertise to provide innovative financial solutions [2].
Synchrony's renewed relationship with Amazon builds on over fifteen years of collaboration. The introduction of Synchrony Pay Later allows approved Amazon customers to utilize a BNPL option for transactions starting at $50. This move underscores the company's commitment to financial innovation and its ability to adapt to evolving consumer preferences [1].
Other notable BNPL providers in the market include Klarna (KLAR) and Affirm (AFRM). Synchrony's expansion into the BNPL space is a strategic move to capture a larger share of the growing consumer finance market [1].
The company's financial performance in Q1 2025 was strong, with net earnings of $757 million or $1.89 per diluted share. However, there were some areas of concern, including a 4% year-over-year decrease in purchase volume and a 23% decrease in revenue [2].
References:
[1] https://www.tipranks.com/news/the-fly/synchrony-announces-partnership-with-one-pay-renewed-relationship-with-amazon-thefly
[2] https://www.gurufocus.com/news/2994311/synchrony-syf-teams-up-with-one-pay-and-amazon-for-new-initiatives-syf-stock-news
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