Synchrony Financial and Cathay Pacific Airways to Introduce Credit Card Program for U.S. Travelers

STAMFORD, Conn. & SAN FRANCISCO–(BUSINESS WIRE)–Synchrony Financial (NYSE:SYF),
a premier consumer financial services company with more than 80 years of
retail heritage, today announced an agreement with Cathay Pacific
Airways to introduce a new co-branded Visa® credit program1
for U.S. travelers.


Planned for launch in first quarter 2017, the Cathay Pacific Airways Visa®
credit card will offer rewards and exclusive benefits
for U.S. travelers on flights to the 173 destinations in 42 countries
and territories that Cathay Pacific serves. The airline flies to Hong
Kong and beyond, with over 100 flights per week from six U.S. cities
(Boston, Chicago, Los Angeles, New York-JFK, Newark Liberty, and San
Francisco). Qualifying cardholders2 will also have access to
special travel packages, multi-destination fares, purchases and services.

“We’re pleased to further expand our credit programs in the travel
industry,” said Tom Quindlen, executive vice president and CEO, Retail
Card, Synchrony Financial. “Cathay Pacific is renowned for their
customer service and we look forward to ensuring this exceptional
experience extends to the new credit card program with meaningful
rewards and value for U.S. travelers. Whether they are a frequent flier
or planning a special trip, Cathay Pacific travelers will enjoy having a
new way to pay for their travel and the opportunity to take advantage of
greater savings and benefits.”

“Cathay Pacific espouses a ‘life well-travelled’ ethos: we believe that
traveling well is an important part of living well,” said Eric Odone,
Vice-President Sales and Marketing, Americas, Cathay Pacific. “The
forthcoming Synchrony credit card will allow customers to maximize their
flight benefits and rewards so they may focus on living—and
travelling—well. We are confident in Synchrony Financial’s ability to
bring new capabilities and reward options to satisfy our customers’
needs and help us build greater loyalty.”

Cathay Pacific Airways is a founding member of the oneworld global
alliance.

1

  The Cathay Pacific Airways Visa® card is issued by
Synchrony Bank pursuant to a license from Visa U.S.A. Inc.

2

Subject to credit approval.
 

About Cathay Pacific Airways

Cathay Pacific Airways flies daily to Hong Kong and beyond, including
over 22 destinations in Mainland China, from six cities in the USA and
two in Canada: Boston, Chicago, Los Angeles, New York (JFK), Newark
Liberty, San Francisco, Vancouver and Toronto; and offers cargo services
to 18 cities across the Americas. More information, including current
fares and availability, may be found at cathaypacific.com/us, www.facebook.com/cathaypacificus,
Twitter @CathayPacificUS or Instagram @CathayPacific. For North American
reservations, dial toll-free: 1-888-233-ASIA.

About Synchrony Financial

Synchrony Financial (NYSE: SYF)
is one of the nation’s premier consumer financial services companies.
Our roots in consumer finance trace back to 1932, and today we are the
largest provider of private label credit cards in the United States
based on purchase volume and receivables.* We provide a range
of credit products through programs we have established with a diverse
group of national and regional retailers, local merchants,
manufacturers, buying groups, industry associations and healthcare
service providers to help generate growth for our partners and offer
financial flexibility to our customers. Through our partners’ over
350,000 locations across the United States and Canada, and their
websites and mobile applications, we offer our customers a variety of
credit products to finance the purchase of goods and services. Synchrony
Financial (formerly GE Capital Retail Finance) offers private label and
co-branded Dual Card credit cards, promotional financing and
installment lending, loyalty programs and FDIC-insured savings products
through Synchrony Bank. More information can be found at www.synchronyfinancial.com,
facebook.com/SynchronyFinancial,
www.linkedin.com/company/synchrony-financial
and twitter.com/SYFNews.

*Source: The Nilson Report (May 2016, Issue # 1087) – based
on 2015 data.

©2016 Synchrony Bank/Synchrony Financial. All rights reserved.

Contacts

Synchrony Financial
Dori Abel, 855-791-8007
Senior Vice
President, External Affairs
media.relations@synchronyfinancial.com
or
Cathay
Pacific Airways
Julie Jarratt, 415-848-2006
Communications
Manager, Americas
Julie_Jarratt@CathayPacific.com