GE Capital Retail Bank has expanded its credit card programme
portfolio by partnering with global toy retailer, Toys “R” Us.
The US-based bank will provide a consumer
credit card programme for the retailers US stores.
Go deeper with GlobalData
The credit card programme will include a
private label credit card and co-branded card that aim to provide
cardholders with benefits and convenience. Cardholders will also be
able to earn rewards for purchases made in-store or online.
As part of the partnership GE Capital’s Retail
Finance business, which provides financial solutions to retailers,
will manage the relationship with the retailer and service the
account.
GE Captail said it will acquire the existing
card programme assets, which amounts to approximately $900m (€686m)
from JP Morgan Chase.
Commenting on the acquisition, Margaret Keane,
CEO and president of GE Capital’s retail Finance business
said:
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData“This portfolio acquisition broadens our U.S.
retail credit card programs with a respected retailer. The
transaction, which we expect to close in the second quarter of
2012, will build growth for GE
Capital in its high performing, core retail finance
business. We look forward to working with the Toys “R” Us
team,”
The credit card programme is scheduled to
launch in June 2012.
