Repairs At Home? - Synchrony's Expanded Roto-Rooter Partnership Offers Financing Access For Plumbing Services

Synchrony Financial SYF has entered into an expanded partnership with the plumbing and drain cleaning services provider, Roto-Rooter.

The expanded partnership aims to provide homeowners with new financing options for their home repair needs.

The partnership, which began a decade ago, provides customers with a private label credit card that offers flexible financing options, including promotional financing.

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The agreement is expected to empower Roto-Rooter business owners to provide flexible payment options to support immediate and urgent situations that may arise in their customers' homes.

Together, Synchrony and Roto-Rooter developed an in-home digital sales tool for technicians to offer financing.  

The flexible payment and promotional financing options led to negotiating a new multi-year agreement, which Synchrony is currently rolling out to Roto-Rooter's franchise and contractor locations.

Price Action: SYF shares are trading higher by 0.70% at $34.72 on the last check Friday.