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Walgreens Moves Into Financial Services With Credit Card Launch

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In partnership with Synchrony and Mastercard, Walgreens is expanding its financial services offerings. By the second half of 2021, 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 myWalgreens customer loyalty program, which launched in November 2020. Cardholders will be able to receive myWalgreens cash rewards and other offers, and 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. The retailer plans to explore a number of Mastercard solutions 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. They will have access to contactless shopping experiences and mobile-first money management features as well as the opportunity to earn accelerated rewards.

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