Walgreens launched a new credit card program Monday that's meant to reward consumers for healthy purchases.
The major pharmacy chain's myWalgreens Mastercard and the myWalgreens credit card, issued by Synchrony Bank, will offer cashback rewards at more than 9,000 Walgreens locations, Walgreens-owned Duane Reade locations and online through the Walgreens mobile app, and wherever Mastercard is accepted, according to Walgreens.
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The credit card program, which Walgreens says is just the beginning of the "expansion of our financial services offerings," aims to reward consumers for making healthy choices by offering savings on future health and wellness purchases, said Maria Smith, vice president of payments and financial services at Walgreens.
"Most credit cards reward customers for what they buy, but not how they live," Smith said.
The myWalgreens credit card gives 10% Walgreens Cash rewards on certain Walgreens-branded products and 5% Walgreens Cash rewards on other brands and pharmacy purchases.
Meanwhile, the myWalgreens Mastercard gives 3% Walgreens Cash rewards on eligible grocery and health purchases "outside of Walgreens and including healthcare provider visits" as well as 1% Walgreens Cash rewards on certain purchases "anywhere Mastercard credit cards are accepted."
According to Walgreens, cardholders will also get $25 in Walgreens Cash rewards if they make a purchase within 45 days of opening an account.
"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," Synchrony Health and Wellness CEO Alberto Casellas said.
The myWalgreens credit card "seamlessly integrates with the Walgreens app," which means approved cardholders can use the digital card immediately in store and online, according to the company.