Synchrony Expands into Pet Resorts with CareCredit Offering at Destination Pet

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Jan 09, 2024, 08:00 ET

Destination Pet Selects CareCredit as its Financing Solution for all Locations Nationwide

For the First Time, CareCredit to Offer Financing for Service Packages Versus Single Services

STAMFORD, Conn., Jan. 9, 2024 /PRNewswire/ -- As part of an effort to expand deeper into the pet market, Synchrony (NYSE: SYF), a leading consumer finance company, today announced a multi-year agreement with Destination Pet, a premier provider of veterinary care and pet services, to offer its CareCredit health and wellness credit card as the "first look" financing solution at all Destination Pet locations nationwide, now including pet resorts. The agreement marks Synchrony's first-ever partnership with a pet resort group.

The partnership builds on Synchrony's current relationship with Destination Pet's veterinary care centers and will allow clients to use their CareCredit card to pay for any Destination Pet service – boarding, daycare, grooming, training, or veterinary care – creating a seamless financing experience. Additionally, Pet parents now have the flexibility to use CareCredit to pay for an individual service, such as single visit to daycare, or they can pre-pay for a larger package of Destination Pet services to be used over time.

"Pet wellness is top of mind for pet owners, and today that includes everything from routine veterinary exams to behavioral training, group play, boarding and more," said Jonathan Wainberg, SVP and General Manager, Pet and Co-Brand, Health and Wellness, Synchrony. "Our partnership with Destination Pet not only solidifies our shared mission of improving the lives of pet families but is a significant milestone for Synchrony on our journey to broaden access to simple, flexible financing solutions for pet owners."

"Selecting a financing partner like Synchrony to streamline financing across the entire Destination Pet ecosystem will improve the experience for clients and furthers our commitment to becoming the go-to destination for pet care," said Jennifer Strickland Fowler, CEO, Destination Pet. "We look forward to offering pet parents the option to pay for all of our services with CareCredit."

Pet owners looking for a flexible way to pay for their pet's care can quickly confirm if they prequalify for the CareCredit credit card in real time, with no impact to their credit score, and apply on any smart device, at any Destination Pet location or veterinary practice or over the phone. A credit decision is immediate and if approved, they can use their account to pay the veterinarian right away. CareCredit offers shorter-term and longer-term financing options, including deferred interest, based on purchase amount, and a user-friendly online calculator that makes it easy for pet owners to quickly estimate monthly payments.

For more than 30 years, CareCredit has partnered with veterinary practices to streamline financial workflows and payment processes, reducing accounts receivable and improving cash flow. For pet owners, CareCredit has been a valuable financing option for all types of veterinary services, treatments and diagnostics, giving pet owners peace of mind and the confidence that they are ready to care for their beloved pets throughout their lifetime. CareCredit is offered in more than 25,000 veterinary practices across the U.S. For more information, please visit www.carecredit.com

About Synchrony
Synchrony (NYSE: SYF) is a premier consumer financial services company delivering one of the industry's most complete digitally enabled product suites. Our experience, expertise and scale encompass a broad spectrum of industries including digital, health and wellness, retail, telecommunications, home, auto, outdoor, pet and more. We have an established and diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers, which we refer to as our "partners." We connect our partners and consumers through our dynamic financial ecosystem and provide them with a diverse set of financing solutions and innovative digital capabilities to address their specific needs and deliver seamless, omnichannel experiences. We offer the right financing products to customers in their channel of choice. For more information, visit www.synchrony.com.

About Destination Pet
Destination Pet is a nationwide network of pet resorts and veterinary clinics dedicated to providing total pet wellbeing in more than 35 states via 190+ locations. Through their innovative Connected Care approach and first-of-its-kind, industry-leading pet app Yourgi, they guide consumers seamlessly through the complexity of pet care by offering convenient access to a comprehensive suite of pet care services from Boarding, daycare and grooming to training and veterinary medical care. For more information, visit www.destinationpet.com.

Contacts:

Lauren Devilbiss
Synchrony
[email protected]

Susannah Thompson
Destination Pet
[email protected]

SOURCE Synchrony