Walgreens (Nasdaq: WBA) today introduced the new myWalgreens Credit Card program, featuring two industry-first retail health and wellness credit cards, issued by Synchrony Bank (NYSE: SYF).
The myWalgreens Mastercard and the myWalgreens card are the first ever of their kind to reward more personalized wellbeing choices and offer industry-leading rewards at more than 9,000 Walgreens locations, Walgreens.com, Walgreens-owned Duane Reade locations, via the Walgreens mobile app, and wherever Mastercard is accepted.
“Today’s launch of the myWalgreens Credit Card is just the beginning in the evolution and expansion of our financial services offerings,” said Maria Smith, vice president of payments & financial services at Walgreens. “Most credit cards reward customers for what they buy, but not how they live. 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.”
“Synchrony is proud to deepen our health and wellness expertise by partnering with Walgreens and to bring the myWalgreens Credit Card to market,” said Alberto Casellas, chief executive officer and executive vice president, Synchrony Health and Wellness. “Now more than ever, consumers are focused on living well and this card offers a dynamic, new customer experience designed to meet their unique needs - a personalized experience that makes saving, shopping and focusing on wellness easier and more rewarding.”
Healthy Rewards and a Simplified Digital-Led Experience
The new myWalgreens Credit Card offers consumers a simple and unique experience that provides savings on future health and wellness purchases.
Valuable Walgreens Cash rewards on Purchases:
myWalgreens Credit Card cardholders can earn 10% Walgreens Cash rewards on eligible Walgreens-branded products and 5% Walgreens Cash rewards on all other eligible brands and pharmacy purchases.
myWalgreens Mastercard cardholders also earn 3% Walgreens Cash rewards on all eligible grocery and health and wellness purchases outside of Walgreens and including healthcare provider visits, and 1% Walgreens Cash rewards on eligible purchases anywhere Mastercard credit cards are accepted.
Cardholders will earn $25 in Walgreens Cash rewards when they make their first purchase within 45 days of opening an account
Digital-Led Features Deliver Innovative Customer Experiences:
The digital led experience delivered by Synchrony’s leading consumer financing technology allows customers to easily apply for the myWalgreens Credit Card online at Walgreens.com/CreditCard or on the Walgreens mobile app.
While in-store, customers can apply at the register, by scanning QR codes on store signage or by using Synchrony’s direct to device technology, which sends a unique application link directly to the customer via text message.
When the customer chooses to apply, Synchrony’s patent-pending dApply technology authenticates the customer and prefills much of the application to streamline the application process. In addition, Synchrony’s Quickscreen pre-approval engine provides a real-time credit check and response, enabling members of the myWalgreens loyalty program to open an account in seconds if approved.
The myWalgreens Credit Card seamlessly integrates with the Walgreens app, including a digital wallet for purchases, digital receipts, environmental and health forecasts and the ability to donate your rewards to national and local charities. Once approved, cardholders can begin using their digital card immediately in-store, at Walgreens.com, and by using the Walgreens mobile app. Additional cardholder features include:
The myWalgreens Credit Card has no annual fee and there is no membership fee to join the myWalgreens rewards program.
Walgreens Cash rewards can be redeemed at any Walgreens store or online. There is no limit to how many Walgreens Cash rewards a cardholder can earn.
Cardholders will be able to use the myWalgreens Credit Card for purchases at more than 9,000 Walgreens stores, Walgreens.com, Walgreens-owned Duane Reade locations 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.
myWalgreens Mastercard cardholders will also be able to use their credit card to make purchases at all other places of business wherever Mastercard is accepted, and earn rewards, including accelerated rewards when shopping for products in the health and wellness category, an area Walgreens champions in communities across America.