Synchrony Financial in Stamford, Conn., has agreed to issue private-label cards on behalf of Newegg, an online retailer of consumer electronics.
Synchrony will offer a range of financial terms for consumers who qualify for the Newegg Store Card. The card can be used at Newegg.com and Neweggbusiness.com, the consumer websites operated by the City of Industry, Calif., company.
Synchrony will also offer a commercial credit program for small businesses, government agencies, healthcare providers and other groups looking for short-term credit to buy consumer electronics.
Synchrony and Newegg expect to introduce the new cards and credit program in the third quarter. Terms of the multiyear agreement were not disclosed.