Walgreens To Roll Out Co-Branded Cards With Mastercard, Synchrony

Amid its continuing commitment to provide healthcare offerings and benefits to shoppers, Walgreens is growing its financial services offering with the help of Synchrony and Mastercard.

In the months to come, the retailer will roll out Synchrony-issued credit cards in addition to a prepaid debit card that will be fueled by the Mastercard network, according to a Wednesday (Jan. 13) announcement.

“Walgreens is committed to providing our customers and patients with unparalleled loyalty and rewards experiences for managing their health and well-being,” Walgreens President John Standley said in the announcement, noting that Synchrony and Mastercard “share our commitment to supporting healthy communities.”

The credit cards will link up with myWalgreens, the retailer’s new customer rewards program. Those who have the card will get myWalgreens cash rewards and other promotions. Moreover, the flagship co-branded card will provide benefits via Synchrony and Mastercard when it is utilized at other locations, according to the announcement.

“We are proud to be teaming up with Walgreens and Synchrony to further connect their customers to the digital economy and enhance the consumer health and pharmacy experience through our differentiated technology and established role in healthcare,” Linda Kirkpatrick, president of North America at Mastercard, said in the release.

According to the announcement, the cards will be the first of a host of new financial offerings planned by the healthcare retailer.

The news comes as Walgreens Boots Alliance (WBA) has bolstered its investment in VillageMD to allow for the opening of 600 to 700 new Village Medical at Walgreens primacy care clinics in the four years to come. The firms plan to construct “hundreds more” in the years to come, according to a previous announcement.

Walgreens Boots recently reported $27.2 billion in sales for its Retail Pharmacy USA division as part of its Q1 fiscal 2021 results. Sales in comparable retail locations increased 3.7 percent from the year-ago quarter.