Walgreens seems to be to bank card, monetary companies to spice up income

Walgreens seems to be to bank card, monetary companies to spice up income

Individuals carrying masks stroll in a crosswalk close to a Walgreens on September 30, 2020 in New York Metropolis.Alexi Rosenfeld | Getty PhotosWa

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Individuals carrying masks stroll in a crosswalk close to a Walgreens on September 30, 2020 in New York Metropolis.

Alexi Rosenfeld | Getty Photos

Walgreens stated Wednesday it should provide a rising record of economic merchandise for purchasers — together with a co-branded bank card and a pay as you go debit card — because it tries to win extra of their wallets and assist them handle dear medical bills.

The bank cards will launch within the second half of this yr. They are going to be a part of the Mastercard community and issued by Synchrony. They are going to be linked to Walgreens’ new loyalty program, which the corporate relaunched in November with a brand new identify, perks and Covid pandemic-inspired options, akin to curbside pickup and supply by way of DoorDash and Postmates.

Walgreens and its drugstore friends are adapting to fast-changing consumer behaviors which have accelerated throughout the pandemic. Walgreens has seemed to new enterprise alternatives, together with a cope with VillageMD to open a whole lot of main care clinics at its shops.

John Standley, Walgreens president, stated the corporate sees monetary companies as a type of development drivers, too. “As we proceed to deal with creating new income streams, we sit up for exploring and introducing much more well being and well-being cost initiatives within the close to future,” he stated in a information launch.

It is the second main retailer this week to…



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