Synchrony Financial invests in m-payment startup LoopPay

LoopPay is expected to provide Synchrony Financial with special features and benefits for its cardholders and retail partners.

LoopPay technology enables existing point-of-sale infrastructure to accept contactless payments through mobile devices at a number of retail merchants.

Synchrony Financial (formerly GE Capital Retail Finance) is a retail lender, with 80 years of experience in consumer financing. The business, with its lending entity Synchrony Bank, provides customized credit programs for retailers and consumers in the US. This includes private label and bankcard credit programs for national, regional and independent retailers in the US, as well as private label credit card programs, special financing, and promotional and installment lending, bankcards and financial services for consumers through dealers; contractors; manufacturers; healthcare practices; and service providers across diverse industry segments.

In recent news, LoopPay has launched the LoopPay ChargeCase, an iPhone charge case that enables mobile credit card transactions while extending battery life.