AWS - Tracking the Digital Payments Takeover - September 2023

Synchrony Launches Learning Center to Support Small Businesses

Consumer financing company Synchrony launched a digital learning platform for small businesses.

The Synchrony Small Business Learning Center aims to help the company’s small- to medium-sized business (SMB) partners and wellness providers enhance the ways in which they operate and grow their businesses, according to a Monday (Nov. 6) press release. They will learn about credit and financing and how to use it to improve customer experiences and drive sales.

“This platform speeds the learning process and equips users with the skills necessary to succeed in today’s competitive market while at the same time simplifying their access to Synchrony’s financing options,” Curtis Howse, executive vice president and CEO of Synchrony Home and Auto, said in the release.

The Small Business Learning Center offers industry-specific courses, videos, games, interactive experiences and more, per the release. Topics covered include sales techniques, compliance, motivating employees, cash flow, vendor management and customer service.

Content is created by Synchrony’s “learning experts,” and courses and tools are regularly added and updated, the release said. Synchrony also partners with learning technology companies.

The learning platform features a dashboard that displays priority content and curated content recommendations, according to the release. It also includes a countdown clock, providing a visual reminder of when priority or required courses are due. Learners can access the full content library and choose their topics and pace to complete the courses.

Small merchants and dealers can access the Learning Center via Business Center, Synchrony’s online business platform, while health and wellness partners can access it via Provider Center, the release said.

Synchrony has been providing financing options to retailers for over 90 years. With more than 460,000 merchant and provider locations and 70 million active accounts, Synchrony’s shopping and payment innovations enable businesses to improve sales and maintain customer loyalty while providing secure, convenient and personalized shopping experiences, per the release.

In May, Synchrony partnered with CoFi to deliver new payment options to the vision industry.

Via the collaboration, Synchrony’s CareCredit credit card will be made available through CoFi’s consolidated payment platform for ophthalmologists, optometrists and surgery centers by the end of 2023.

More than 2,000 vision industry professionals use the CoFi platform, which consolidates bills into a single billing statement when services involve multiple providers.