Walgreens to launch co-branded prepaid Mastercard credit and debit cards, offering myWalgreens cash rewards
Walgreens and MasterCard will also explore more health-focused payment services and offerings
Walgreens is expanding its financial services offering in partnership with Synchrony (NYSE: SYF) and Mastercard (NYSE: MA), as part of its continued commitment to deliver differentiated health services and benefits to customers. In the coming months, Walgreens will launch credit cards, issued by Synchrony, as well as a prepaid debit card, both powered by the Mastercard network.
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Credit cards will be closely linked to Walgreens’ new customer loyalty program, myWalgreens, launched in November 2020, and cardholders will be able to receive myWalgreens cash rewards and other offers. Additionally, the flagship co-branded credit card will offer a wider range of benefits provided through Synchrony and Mastercard when used at other retailers and service providers.
The new cards will be the first in a range of new financial products and services planned by Walgreens, to continue its health and wellness orientation and to improve its loyalty program and the personalization of its customers. Walgreens plans to explore a number of Mastercard solutions in the payments technology ecosystem, including services such as insight and analytics, customer engagement and loyalty, cybersecurity, and in-focus financing. sales, including installments.
“Walgreens is committed to providing our customers and patients with unprecedented loyalty and reward experiences for managing their health and wellness, and we are delighted to partner with Synchrony and Mastercard, who share our commitment to supporting healthy communities, ”said John Standley, president of Walgreens. “As we continue to focus on creating new revenue streams, we look forward to exploring and introducing even more payment for health and wellness initiatives in the near future. “
Eligible customers will be able to use the Walgreens credit card to make purchases at over 9,000 Walgreens stores, Walgreens.com and through the Walgreens mobile app. They will have access to contactless shopping experiences and mobile-focused money management features, as well as the ability to earn accelerated rewards. These same customers will also be able to use the flagship co-branded credit card to make purchases at other retailers and places of business wherever Mastercard is accepted, and earn rewards, including accelerated rewards when purchasing products in. the health and wellness category, a region’s Walgreens champions in communities across America.
“Synchrony is proud to be Walgreens’ partner of choice for this new Walgreens Mastercard,” said Brian Doubles, President of Synchrony. “Walgreens champions the health and well-being of communities, and through our expertise in healthcare technology and financing, we will join forces to create convenient payment solutions and digital experiences to help customers pay for their daily purchases. “
“We understand the critical need to prioritize the consumer experience in a way that is directly relevant to their daily lives, and this card is representative of that,” said Linda Kirkpatrick, President of North America at Mastercard. “We are proud to team up with Walgreens and Synchrony to further connect their customers to the digital economy and improve the consumer health and pharmacy experience through our differentiated technology and our established role in healthcare. “
The new Walgreens credit cards are expected to be available in the second half of this year.
Walgreens (www.walgreens.com) is part of the Retail Pharmacy USA division of Walgreens Boots Alliance, Inc. (Nasdaq: WBA), a world leader in retail and wholesale pharmacy. As America’s best-loved pharmacy, health, and beauty company, Walgreens’ goal is to champion the health and wellness of every community in America. Operating more than 9,000 retail outlets in America, Puerto Rico and the US Virgin Islands, Walgreens prides itself on being a neighborhood health destination serving approximately 8 million customers every day. Walgreens pharmacists play a vital role in the US healthcare system by providing a wide range of pharmaceutical and healthcare services. To best meet the needs of customers and patients, Walgreens offers a true omnichannel experience, with platforms bringing together physical and digital, supported by the latest technologies to provide high quality products and services to local communities nationwide.
Synchrony (NYSE: SYF) is a leading consumer financial services company. We offer a wide range of specialized financing programs, as well as innovative banking products for consumers, in key industries including digital, retail, home, automotive, travel, health and animals. of company. Synchrony allows our partners to increase their sales and retain consumers. We are one of the largest private label credit card issuers in the United States; we also offer co-branded products, installment loans, and consumer finance products for small and medium-sized businesses, as well as healthcare providers. Synchrony is changing what’s possible with our digital capabilities, deep industry expertise, actionable data insights, seamless customer experience, and personalized financing solutions. For more information visit www.synchrony.com and Twitter: @Synchrony.
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, determines our culture and everything we do inside and outside of our business. With connections in more than 210 countries and territories, we are building a sustainable world that opens up invaluable possibilities for all.
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Morry Smulevitz or Scott Goldberg