Synchrony and P.C. Richard & Son Extend Strategic Financial Services Partnership

Multi-year credit and marketing agreement extends 33-year relationship

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Mar 28, 2019, 09:00 ET

STAMFORD, Conn., March 28, 2019 /PRNewswire/ -- Synchrony (NYSE: SYF), a premier consumer financial services company, today announced it has extended an exclusive multi-year consumer financing program for P.C. Richard & Son, a leading family-owned and operated appliance and electronics company. The partnership provides financing options for consumers at 66 P.C. Richard & Son locations and www.pcrichard.com.

Since 1986, Synchrony has offered P.C. Richard & Son customers a branded store credit card and promotional financing options for all major purchases on appliances, electronics, and mattresses. The partnership also includes marketing analytics and mobile technologies to help enhance the customer experience. Specifically, the two companies have partnered on marketing and loyalty programs and a branded mobile app for purchasing and payments. The experience allows customers to shop online, receive special offers and promotions, and service their credit card on the P.C. Richard & Son mobile app.

"P.C. Richard & Son is famous for their customer service and values the shopping experience from start to finish," said Neeraj Mehta, chief executive officer, Payment Solutions, Synchrony. "We look forward to continuing to work with the entire P.C. Richard & Son team, helping them grow their business by delivering new capabilities to create compelling customer experiences."

The company's 110 year history and deep customer service focus was featured on a new Synchrony podcast series – "Business Schooled" – where Gregg Richard, CEO and president of P.C. Richard & Son, discussed making bold decisions and leading a new growth strategy for the family-owned business.

"Synchrony has been an important, strategic partner in helping us develop innovative payment experiences for our customers for more than three decades," said Gregg Richard, CEO and president of P.C. Richard & Son. "Our customers value the convenience of a dedicated line of credit for their purchases, and we are pleased to continue to provide payment options through the renewal and extension of this successful credit card program."

About Synchrony

Synchrony (NYSE: SYF) is a premier consumer financial services company delivering customized financing programs across key industries including retail, health, auto, travel and home, along with award-winning consumer banking products. With more than $140 billion in sales financed and 80.3 million active accounts, Synchrony brings deep industry expertise, actionable data insights, innovative solutions and differentiated digital experiences to improve the success of every business we serve and the quality of each life we touch. More information can be found at www.synchrony.com and through Twitter: @Synchrony.

About P.C. Richard & Son

P.C. Richard & Son began as a small hardware store in Bensonhurst, Brooklyn in 1909, founded by Dutch immigrant, Peter Christian Richard. It was transformed by his son, A.J., into what is now America's largest family-owned and operated appliance and electronics retailer with 66 showrooms serving New York, New Jersey, Connecticut and Pennsylvania. P.C. Richard & Son is headquartered in Farmingdale, Long Island, New York, where it also houses its main distribution center. The company has over 1 million square feet of warehousing in New York, New Jersey, and Connecticut, plus 3 owned-and-operated, state-of-the-art service facilities for repairs on appliances and electronics. Customers can find a large selection and guaranteed lowest prices on a variety of products at P.C. Richard & Son, including major appliances, televisions, mattresses, computers, smart home products, home audio, video games, and more! All of P.C. Richard & Son's nearly 3,000 employees are dedicated to providing Superior Service Before, During and After the Sale, and giving customers a wonderful and rewarding shopping experience. It starts with friendly and knowledgeable salespeople, who explain all the features of today's high-tech products, then continues with next day delivery and professional installation and repair service by their very own crews. An expanded catalog of products can be found on their e-commerce site, pcrichard.com, where live chat, e-mail, and a toll-free phone number are readily available for customer support. The company is currently run by the 4th and 5th generations of the Richard family. P.C. Richard & Son is built on a nearly 110 years of honesty, integrity and reliability... Richard IS Reliable!