The retailer J.Crew Group has entered a new, multi-year agreement with Stamford-based Synchrony (NYSE: SYF) and Purchase-based Mastercard (NYSE: MA) for a private label credit card program that will launch in the first half of 2024.
As part of this partnership, Synchrony will acquire J.Crew’s existing credit portfolio and provide J.Crew with a full suite of digital capabilities. The partnership with Mastercard also marks the first time that a new J.Crew Group co-branded card will be available to make purchases outside of J.Crew to obtain rewards and powered by the Mastercard Network.
“We are thrilled to be working with Synchrony and Mastercard, as their deep industry expertise, leading digital capabilities and collaborative partnership approach are exactly what we are looking for in financial partners,” said Libby Wadle, CEO of J.Crew Group. “Together, we will create the opportunity for our consumers to receive an easy and convenient credit experience that will meet their ever-changing needs.”
Photo by Mike Mozart / Flickr Creative Commons
