Walgreens to Launch New Credit Cards Later this Year
Walgreens is partnering with Synchrony and Mastercard to launch new credit cards. In the coming months, Walgreens will launch credit cards, issued by Synchrony, as well as a prepaid debit card, both of which will be powered by the Mastercard network.
The credit cards will connect with Walgreens new customer loyalty program, myWalgreens, which launched in November 2020 with features such as curbside pickup and delivery through DoorDash and Postmates. Cardholders will be able to receive myWalgreens cash rewards and other offers. The co-branded credit card will also 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. Walgreens plans to explore a number of Mastercard solutions across the payments technology ecosystem, including services such as insight and analytics, customer engagement and loyalty, cybersecurity, and point-of-sale financing, including installments.
Eligible customers will be able to use the Walgreens credit card for purchases at more than 9,000 Walgreens stores, Walgreens.com and via the Walgreens mobile app as well as purchases at other retailers and places of business wherever Mastercard is accepted. Customers will earn rewards, including accelerated rewards when shopping products in the health and wellness category.
The new Walgreens credit cards are slated to be available in the second half of this year.