Synchrony Financial has announced a strategic investment in LoopPay, a mobile payments platform company. Synchrony Financial expects LoopPay to provide special features and benefits for its cardholders and retail partners.
These types of investments demonstrate our commitment to innovation and growth in the emerging payments space,” said Margaret Keane, president and CEO of Synchrony Financial. “We are continuously exploring technologies to help our partners grow, while looking for additional options to deliver greater convenience and utility for our cardholders.
LoopPay technology enables existing point-of-sale infrastructure to accept contactless payments through mobile devices at the vast majority of retail merchants. Synchrony Financial views LoopPay as an opportunity to close this gap for its retail partners and their customers while offering an enhanced consumer experience and additio
The terms of the investment were not disclosed.