Synchrony announces extension of partnership with JCPenney

Synchrony (SYF) announced a long-term extension of their nearly 25-year partnership with JCPenney. Synchrony and JCPenney have partnered for more than two decades to manage and service rewards-rich credit cards for JCPenney customers at the retailer’s more than 650 stores in the U.S. and Puerto Rico, as well as JCPenney.com. The long-standing partnership has been expanded to include new financing options that offer customers more choice and flexibility in how they make purchases. Synchrony Pay Later, a buy now, pay later financing option, will now be offered at JCPenney to meet customer needs, especially in JCPenney’s fine jewelry business. With the addition of Synchrony Pay Later at JCPenney, customers will be able to finance fine jewelry purchases over $300 in store or online offering 6, 12, or 24-month installment payments, giving customers another way to make a purchase.