Synchrony Financial, a US-based provider of private label credit cards, has purchased retail mobile app developer GPShopper to create new mobile solutions for retail partners.
Founded in 2005, GPShopper is a mobile commerce and engagement platform for retailers and brands that want to create custom app experiences for their customers.
Synchrony Financial believes that the acquisition will help the company in improving its merchants' digital payments and mobile commerce capabilities.
As part of deal, GPShopper’s team will join Synchrony’s Retail Card sales platform.
The two companies have been partnering since 2015 on several mobile offerings, including the Synchrony Plug-in or SyPi, a native credit feature that plugs in to a retailer’s mobile app.
Synchrony Financial executive vice president and CEO of retail card Tom Quindlen said: “As both companies achieved considerable success through our partnership over the past two years, the benefits of bringing them into the Synchrony Financial family became increasingly apparent.
“We look forward to the further development of SyPi and other mobile offerings, and we could not be more thrilled to have the GPShopper team join our organization.”
GPShopper co-founder and CEO Alex Muller said: “Mobile commerce is driving the future of retail, and by joining forces with Synchrony, we can put our retail clients at the forefront of this transformation. Additionally, our team will now have broader opportunities and greater resources to develop and deliver innovative mobile solutions for our retail partners.”
Financial terms of the transaction were not disclosed.