Walgreens partners with Synchrony and Mastercard to expand its financial services

According to the press release, 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 closely connect with Walgreens new customer loyalty programme, myWalgreens, which launched in November 2020, and cardholders will be able to receive myWalgreens cash rewards and other offers. 

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. They will have access to contactless shopping experiences and mobile-first money management features as well as the opportunity to earn accelerated rewards. 

Those 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 shopping products in the health and wellness category, an area Walgreens champions in communities across the US.

Moreover, 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 instalments. The new Walgreens credit cards are slated to be available in the second half of 2021.