Walgreens Debuts Credit Card Program

Walgreens has rolled out two credit cards as part of a new program called myWalgreens.

The cards, myWalgreens Credit Card and myWalgreens Mastercard, further expand the pharmacy chain’s financial services. Both cards are issued by Synchrony Bank and offer rewards based on health-and-wellness purchases, Drug Store News reported. 

Executive Summary

The launch of the new credit cards comes as more retailers are focused on delivering customer loyalty programs and adding more financial services. As several pandemic-related shopping trends continue, companies are jockeying to become truly omnichannel.

Consumers with the myWalgreens Credit Card can earn 10% Walgreen Cash on certain Walgreens-owned products and 5% Walgreens Cash rewards on other eligible purchases. For grocery and health-and-wellness purchases outside of Walgreens, consumers can earn 3% Walgreens Cash, plus 1% for purchases at eligible businesses that accept Mastercard.

“Most credit cards reward customers for what they buy, but not how they live,” Maria Smith, vice president of payments and financial services at Walgreens, said in a statement. “The myWalgreens Credit Card aims to change that through building upon the strength of our myWalgreens loyalty platform and app experience, while cardholders can earn up to 10 percent Walgreens Cash rewards for making healthy choices when they use their myWalgreens Credit Card to make purchases in-store and online.”

Consumers can apply for the cards online or on the Walgreens app, as well as at the register with a QR code posted on store signage. They can also apply using Synchrony’s direct-to-device technology with a link delivered via text message.

Exec summary

The cards are integrated with the Walgreens app, with a digital wallet for purchases, receipts, health forecasts and the ability to donate to charities.

See the full story at Drug Store News.