Synchrony Financial plans to broaden mobile scope with GPShopper acquisition
Synchrony Financial has announced that it has acquired GPShopper, a developer of mobile apps that offer retailers and brands a full suite of commerce, engagement and analytic tools.
Financial terms of the transaction were not disclosed and it is not expected to have a material impact on financial results, according to a press release from Synchrony.
Synchrony had previously announced a strategic investment in GPShopper in January 2015 and the companies have since collaborated on several mobile offerings, including the Synchrony Plug-in or SyPi, a native credit feature that plugs in to a retailer's mobile app. SyPi enables retailers' credit cardholders to easily shop, redeem rewards, and securely manage and make payments to their accounts with their smartphones.
"The GPShopper team have built an incredibly dynamic business," Tom Quindlen, Executive Vice President and CEO, Retail Card, at Synchrony Financial. "As both companies achieved considerable success through our partnership over the past two years, the benefits of bringing them into the Synchrony Financial family became increasingly apparent. We look forward to the further development of SyPi and other mobile offerings, and we could not be more thrilled to have the GPShopper team join our organization."