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Walgreens Announces Launch Of New Credit Card Program – Encouraging Health & Wellness Purchases

By John F. Heerdink, Jr.

Reportedly, Walgreen Boots Alliance (WBA) is launching a new credit card program, with two cards focused on rewards for pharmacy purchases as well as used for other health and wellness purchases. One is a Walgreens branded card, and the other one is a MasterCard. The latter has lower rewards thresholds but a larger list of opportunities for rewards. The list includes gyms, spas, grocery stores, sports stores, health care providers, pharmacies, salons, golf courses, and country clubs. The card can be used for veterinary visits and pet stores, medical equipment purchases, and counseling services. The rewards return 3% Walgreens Cash rewards.

On the other hand, the company-branded card serves as a way to attract loyal customers, with 10% rewards on store-branded products and 5% on pharmacy purchases and other items also there is no limit to rewards earned, as per Maria Smith, vice president of payments & financial services at Walgreens.

“Most credit cards reward customers for what they buy, not how they live. We aim to change that by focusing on a product that rewards personal health and well-being choices. We’re rewarding on categories that a lot of cards have not in the past – a provider or a health care class. Not just grocery, that’s usually where every other product sits. We are very unique in that we are providing a longer list of health and well-being choices,” stated Smith.

Smith informed that while the focus is on health and wellness, there is no way for the store to disallow the purchase of unhealthy products like sodas and chips, with the cards from qualifying for rewards. 

“While we can’t make choices for our customers, they can personalize their health and well-being choices and still be able to earn rewards to use on healthy choices,” stated Smith.
 
The new program is in partnership with Synchrony Financial and the application process is available both online and in-store, and the payments can be used for online and in-store purchases.
 

Walgreen Boots Alliance (WBA) is a pharmacy-led, health and well-being enterprise with a long history of trusted healthcare services, community pharmacy care, and pharmaceutical wholesaling dates. To learn more about Walgreen Boots Alliance (WBA) and to continue to track its progress please visit the Vista Partners Walgreens Boots Alliance Page.

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Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Walgreens launches healthy rewards credit card in Yahoo Finance)


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