MCLEAN, Va. and BENTONVILLE, Ark., Sept. 18, 2019 /PRNewswire/ -- Capital One
and Walmart are introducing the Capital One Walmart Rewards Credit
Card Program, which launches with two new credit cards that reward
customers for shopping at Walmart and on purchases they make
everywhere the card is accepted.
The program's signature co-branded card, the Capital One
Walmart Rewards Mastercard, and the private-label card
exclusively for Walmart purchases, the Walmart Rewards Card,
will be available beginning September
24.
Designed not only for Walmart purchases, but also to be the card
of choice for all customers' needs, the Capital One Walmart Rewards
Mastercard offers unlimited:
- 5% back on purchases at Walmart.com, inclusive of Walmart
Grocery Pickup and Delivery.
- 5% back on in-store purchases when using Walmart Pay for the
first 12 months after approval as a special introductory
offer.
- 2% back on Walmart purchases in stores outside of the
introductory offer.
- 2% back on restaurants and travel.
- 1% percent back everywhere else.
- No annual fee and no foreign transaction fees.
- The ability to redeem rewards at any time for travel, gift
cards, during online checkout at Walmart.com, for recent purchases,
and statement credits.
The card also includes a variety of digital-first features that
reimagine how customers interact with their credit card. While
customers can apply for the card at Walmart.com, the Walmart app,
or at CapitalOne.com, Walmart and Capital One have also created a
mobile application experience. Applicants can text to apply from
anywhere and complete their application from their personal mobile
devices. Once applicants are approved and their identity is
verified, they will receive immediate access to their card for
Walmart purchases. If new cardholders sign up for Walmart Pay or
already have an account, they can easily load their card into the
Walmart app for use in-store and on Walmart.com—there is no need to
wait for the card to arrive in the mail.
"Walmart's mission has always been to help customers save money
so that they can live better, and our new credit card program—which
both helps customers earn more when paying for things in and
outside of Walmart, and offers many other incredible benefits—is
squarely aligned with that mission," said Daniel Eckert, senior vice president, Walmart
services and digital acceleration. "As our company has evolved to
serve customers shopping in stores, online, and on the Walmart
apps, we also recognized the need to fully digitally enable the
cardholder experience; that's why we've worked with Capital One to
make it possible for cardholders to manage essentially every
interaction with the program right from the palm of their
hands."
Cardholders can also take advantage of many digital tools from
Capital One, including intelligent, real-time purchase
notifications, security alerts, 0% fraud liability if the card is
lost or stolen, and the ability to lock and unlock their card
directly through the Capital One mobile app.
"We are using our technology expertise to transform the customer
experience through a digital-first approach," said Daniel Mouadeb, senior vice president, head of
Walmart partnership at Capital One. "We worked with Walmart to
deliver a credit card program that offers meaningful rewards
combined with simple, intuitive digital tools that help people get
more from their money by rewarding them for the things they buy at
Walmart and everywhere else they shop."
In addition to the Capital One Walmart Rewards Mastercard,
Walmart and Capital One are offering the Walmart Rewards Card.
These cardholders will earn the same 5% back on purchases made at
Walmart.com and on the Walmart app; the 5% introductory offer for
using Walmart Pay in stores for the first 12 months after approval
and an unlimited 2% back on Walmart purchases in stores outside of
the introductory offer; and 2% back at Walmart Fuel Stations.
Current Walmart cardholders will be converted to the Capital One
Walmart Rewards Mastercard or the Walmart Rewards Card and will
start earning these new rewards starting October 11, with updated cards arriving in the
mail beginning in November. Current cardholders will also be
eligible to earn 5% back when they use their card with Walmart's
mobile payment solution, Walmart Pay, for in-store purchases
through October 14, 2020.
While these two products launch today, Capital One and Walmart
will continue to innovate and add new products and capabilities to
the program over time.
For media assets, visit corporate.walmart.com/newsroom or
capital.one/walmart
About Capital One
Capital One Financial
Corporation (capitalone.com) is a financial holding company whose
subsidiaries, which include Capital One, N.A., and Capital One Bank
(USA), N.A., had $254.5
billion in deposits and $373.6 billion in total
assets as of June 30, 2019. Headquartered in McLean,
Virginia, Capital One offers a
broad spectrum of financial products and services to consumers,
small businesses, and commercial clients through a variety of
channels. Capital One, N.A. has branches located primarily
in New
York, Louisiana, Texas, Maryland, Virginia, New
Jersey, and the District of Columbia. A Fortune 500 company, Capital One
trades on the New York Stock Exchange under the symbol "COF" and is
included in the S&P 100 index.
About Walmart
Walmart Inc. (NYSE: WMT) helps people
around the world save money and live better—anytime and anywhere—in
retail stores, online, and through their mobile devices. Each week,
nearly 275 million customers and members visit our more than 11,300
stores under 58 banners in 27 countries and eCommerce websites.
With fiscal year 2019 revenue of $514.4
billion, Walmart employs over 2.2 million associates
worldwide. Walmart continues to be a leader in sustainability,
corporate philanthropy and employment opportunity. Additional
information about Walmart can be found by visiting
corporate.walmart.com, on Facebook at facebook.com/Walmart, and on
Twitter at twitter.com/walmart.
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SOURCE Capital One