Fashion retailer Stein Mart has extended co-branded MasterCard and private label credit card program agreement with Synchrony Financial.
The two entities have partnered since 2006 to offer credit card programs for cardholders at the retail chain’s 278 stores and at steinmart.com.
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This agreement will give cardholders access to exclusive extra savings where they can save 10%, at least 10 times a year, the companies said in a statement.
Stein Mart CFO Greg Kleffner said: "Our credit card is a proven sales driver as our cardholders are our most frequent visitors. The extension with Synchrony will allow us to continue the fast-paced growth of our credit card program and our connection to these important customers, with improved economic terms benefitting our profitability."
Synchrony Financial executive vice president and CEO for retail cards Tom Quindlen said: "The Stein Mart cards not only offer greater payment flexibility to customers, but also greater value through savings and benefits to loyal customers.
"We’re pleased to continue our long relationship with Stein Mart, and look forward to continuing to build continued loyalty with their customers through our credit card programs."
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By GlobalData
