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Synchrony CEO and President Margaret Keane

American Banker: Plastic cards will be gone in five years: Synchrony CEO

The days of swiping plastic are rapidly coming to an end. That’s according to Margaret Keane, president and CEO of Synchrony Financial, the industry's largest issuer of store cards, who said during a public appearance Tuesday that she expects credit cards to go by the wayside as soon as five years from now. Asked whether she thought plastic cards would meet their demise within the next decade, Keane said she expects the transition to occur much faster than that. “It’s going to happen soon.
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