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Synchrony And Fiserv Expand Strategic Partnership With Payment Options For Merchants And Their Customers Via Clover

Synchrony, a leading consumer financing company, announced an expanded strategic partnership with Fiserv, Inc., a leading global provider of payments and financial services technology solutions. Small businesses will now be able to access Synchrony products and services and accept private label credit card payments via the Clover point-of-sale and business management platform from Fiserv, accelerating growth for small businesses and offering more flexibility and choice in how consumers make purchases. The availability of Synchrony’s capabilities and products via the Clover App Market will help Synchrony’s merchants attract more customers and drive more revenue through a broad suite of financing products.

As small businesses — from automotive repair to retail to business services — seek solutions to grow, this partnership will help them quickly and easily access payment and financing options, resulting in a simpler and more seamless customer experience. Synchrony will seek to expand its reach to the robust portfolio of Clover merchants by being the first company to enable Clover merchants to accept private label card payments via Clover. Synchrony clients will also be able to access the broad suite of Synchrony’s products such as revolving credit and short-term and long-term installment loans. The partnership of Synchrony and Fiserv will explore additional opportunities to cross-sell Synchrony products to existing Clover merchants.

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“This strategic partnership deepens Synchrony’s partner ecosystem and reinforces our growth strategy to expand and accelerate innovative product offerings through additional distribution channels,” said Michael Bopp, EVP and Chief Growth Officer, Synchrony. “It builds on our momentum to bring our products to merchants faster and leverages Synchrony’s leadership in financing, digital capabilities, and data and analytics. Fiserv is a long-term strategic Synchrony partner, and we’re excited to leverage the point-of-sale innovations driven by Clover to continue to transform the way people purchase while helping merchants grow.”

“Fiserv is committed to making it easier for small businesses to accept a broad range of payment methods, and to helping small business owners manage their business. Our partnership with Synchrony furthers that commitment by enabling merchants to accept private label card payments via Clover, streamlining the payment process and improving the customer experience,” said Devin McGranahan, Head of Global Business Solutions at Fiserv.

Companies like Express Oil Change & Tire Engineers plan to use a combination of Synchrony and the Clover platform to serve the customers they already have as well as attract new ones.

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[To share your insights with us, please write to sghosh@martechseries.com]

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