Consumers will also receive other benefits if they use credit cards at other service providers or retailers
Walgreens has partnered with Mastercard and Synchrony to expand its business strategy as well as financial services.
Through the partnership, the company will launch credit cards and prepaid debit cards. The credit cards will be issued by Synchrony. However, both the prepaid debit cards and credit cards will be powered by the Mastercard network.
In fact, the credit cards will be connected with the new Walgreens loyalty program. This will enable cardholders to receive myWalgreens cash rewards among other offers. Consumers will also receive other benefits if they use credit cards at other service providers or retailers.
While these will be the first cards issued by Walgreens, the company is looking to explore other Mastercard payment solutions in remittance technology. These include cybersecurity, insights and analytics, point-of-sale financing, loyalty, and customer engagement. Other health and well-being payment initiatives will also be explored in the future.
Eligible users will be able to use the Walgreens credit cards across over 9,000 Walgreens stores, via the Walgreens mobile app and Walgreens.com. Users will earn rewards, have access to mobile money management features, and enjoy a contactless shopping experience.
They will also be able to use credit cards to make purchases in places where Mastercard is accepted and earn accelerated rewards in the health and wellness category.
The new Walgreens credit cards will be available in the second half of 2021.
We’ve reported that in collaboration with Global Payments and NMI, Mastercard launched its initial cloud point-of-sale acceptance technology.