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Synchrony Financial's (SYF) Arm to Provide Financing Options

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Synchrony Financial (SYF - Free Report) solution, CareCredit, recently announced its integration into Millennium Systems International's Meevo 2 business management software. The latest move intends to aid salon and spas save time and streamline the transaction procedure. This is also anticipated to eliminate human errors. Clients will now be able to access more financial options and enjoy seamless payment processes.

Following the integration of the CareCredit financial solution into Meevo 2, salon and spa teams will be able to undertake payments processing from the register, which will then automatically be recorded in the ledger.

Spas and salons will benefit further as customers would be able to buy additional treatments or products from them without having to worry about the payment.

This initiative highlights CareCredit's efforts to offer financing solutions to customers. The present scenario calls for an increasing number of financing options, which paves the way for faster and informed decisions.

Synchrony Financial's CareCredit platform holds ample growth potential.

This Synchrony solution has left no stone unturned in bolstering its capabilities and broadening its network with an intensified focus on serving healthcare systems. CareCredit is accepted at more than 9,000 Walgreens and Duane Reade stores and at more than 17,000 pharmacies globally. The acquisition of Pets Best insurance has surely expanded its capabilities. In an effort to boost the CareCredit network, it made the CareCredit patient financing app available in the Epic App Orchard. In May, CareCredit announced its integration into the Denticon practice management software of Planet DDS.

The CareCredit platform remains well-poised for growth, which positions Synchrony Financial well to continue offering enhanced consumer financing options to customers.

Zacks Rank & Price Performance

Shares of this Zacks Rank #3 (Hold) company have soared 83.2% over a year compared with the industry's growth of 13.8%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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Stocks to Consider

Some better-ranked stocks in the same space are Ally Financial Inc. (ALLY - Free Report) , Columbia Financial, Inc. (CLBK - Free Report) and Moody's Corporation (MCO - Free Report) , each carrying a Zacks Rank #2 (Buy).

Ally Financial, Columbia Financial and Moody’s have a trailing four-quarter earnings surprise of 7.24%, 29.06% and 20.36%, on average, respectively.