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Walgreens Announces Further Expansion of Its Financial Services Business Strategy with InComm Payments

Walgreens Announces Further Expansion of Its Financial Services Business Strategy with InComm Payments

Walgreens offers a new bank account with the debit card Mastercard to take advantage of the InComm Payments platform

InComm Payments Enhances Walgreens Brand Gift Card Program

Walgreens announced an agreement with InComm Payments , a leading global payments technology company, to provide convenient and affordable financial services options to its customers. Together, the companies will launch a new bank account offering for their customers that will be established on MetaBank  with a Mastercard debit card that will serve Walgreens shoppers both in store and online and that will allow them to earn cash rewards from myWalgreens on all purchases as part of the new myWalgreens customer loyalty program launched in November 2020.

“It is an honor that Walgreens has chosen InComm Payments financial services solutions to provide additional benefits to its customers and communities.”

This agreement is part of the alternative profit strategy and the recently announced broader initiativeWalgreens to launch new financial products and services that reinforce its ongoing commitment to offering differentiated services and benefits to its customers. The new banking solution will complement Walgreens’ plans to continue its focus on health and wellness and enhance its customer loyalty and personalization program. The solution leverages InComm Payments’ modern digital banking-as-a-service platform. Walgreens shoppers will be able to find the product in store or enroll directly online and then easily manage their daily finances in a new easy-to-use mobile banking app. The bank account is expected to be available at about 9,000 Walgreens stores and online in the second half of 2021.

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“Walgreens is committed to helping customers with their health and wellness needs and we are pleased to expand our financial services offerings to further enrich experiences and the ways we meet customers’ financial needs,” said John Standley , president of Walgreens. “We look forward to exploring and introducing even more customer-centric health and wellness payment initiatives in the near future, while creating new revenue streams.”

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“It is an honor that Walgreens has chosen InComm Payments financial services solutions to provide additional benefits to its customers and communities,” said Stefan Happ, president of InComm Payments. “This new product offering will establish Walgreens as a destination for financial services, building on Walgreens’ legacy as a one-stop shop for pharmacy and convenience stores.

Additionally, Walgreens and InComm Payments plan to relaunch the Walgreens brand gift card program. InComm Payments will oversee the administration of Walgreens’ existing physical gift card program, launch Walgreens digital gift cards, and enable digital purchases and redemptions on walgreens.com. InComm Payments will also facilitate the wider distribution of Walgreens gift cards to B2B (Business to Business), loyalty, rewards and e-commerce customer channels. The expansion further strengthens the 12-year partnership between InComm Payments and Walgreens, while enhancing the Walgreens brand and customer experience in store, online and via mobile devices.

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