Synchrony: Broad-Based Consumer Spending Drives Q3 Purchase Volume to Record High
By PYMNTS
AI summary of the source article
Synchrony achieved a record third-quarter purchase volume of $49.7 billion, rising 8% year over year. The increase was driven by double-digit growth in both discretionary and non-discretionary out-of-partner spend on consumer co-branded cards.
Key facts
- Synchrony's Q3 purchase volume rose 8% year over year to a record $49.7 billion.
- Discretionary and non-discretionary out-of-partner spend on consumer co-branded cards grew by double digits.
- Synchrony President and CEO Brian Doubles announced the results during an earnings call on Tuesday (Oct. 20).
Source excerpt · PYMNTS
Consumer financing company Synchrony saw record third-quarter purchase volume, with both discretionary and non-discretionary out-of-partner spend on its consumer co-branded cards growing by double digits, Synchrony President and CEO Brian Doubles said Tuesday (Oct. 20) during an earnings call. The purchase volume increased 8% year over year to reach $49.7 billion, the highest third-quarter level […