SYF & The Toro Company Unveil New Credit Card for Equipment Buyers

Core Insights - Synchrony Financial (SYF) and The Toro Company have launched a co-branded credit card to enhance dealer networks and facilitate financing for lawn equipment, responding to the growing demand in both residential and commercial markets [1][5] Financing Features - The Toro Company credit card offers flexible promotional financing options, easy digital applications, and tools to help dealers close sales more effectively, reducing friction at the point of sale [2][4] - SYF's PRISM underwriting engine utilizes over 9,000 data attributes for nuanced credit approvals, potentially expanding the pool of qualified buyers and improving sales conversions for dealers [3][8] Dealer Support - Synchrony provides comprehensive support to dealers, including 24/7 merchant assistance, tailored marketing materials, digital account management, and training resources, aimed at enhancing sales momentum and customer experience [4][8] Market Positioning - The collaboration between Synchrony and The Toro Company may set a new standard for financing systems in specialized equipment industries, integrating credit access into the dealer experience and fostering stronger merchant relationships [5] Stock Performance - Year-to-date, Synchrony shares have increased by 11.2%, contrasting with a 9.8% decline in the industry [6]