The corporate that strives to be America’s most-loved pharmacy is the most recent retailer to get deeper into the banking enterprise. Courtesy of a partnership with InComm Funds, Walgreens introduced at this time that its checking account and debit card product, Scarlet, is now reside. The brand new card is powered by Mastercard, issued by MetaBank, and obtainable solely at greater than 9,000 Walgreens areas within the U.S., in addition to on-line and on the Walgreens cellular app.
Along with credit score and debit options, Scarlet gives Walgreen Money rewards, and private monetary planning and fee instruments starting from early direct deposit and billpay to cellular verify seize and cash switch to different Scarlet accountholders. Maria Smith, VP of Funds & Monetary Providers at Walgreens, put the brand new providing within the context of different monetary companies initiatives from the corporate, together with the Walgreens cellular pockets, remittances, ATMs, third get together banking companies, and the corporate’s “lately launched myWalgreens Credit score Card.”
“With a concentrate on our clients’ well being and wellbeing,” Smith mentioned in a press release “Walgreens is happy to increase our monetary companies choices with Scarlet, and additional increase the broad spectrum of economic options which might be accessible to the shoppers, sufferers, and communities we serve.”
The newest evolution within the 12-year partnership between Walgreens and InComm was introduced again within the spring, and was heralded as a part of the pharmacy chain’s “various revenue technique” and a “broader initiative” to supply a wider vary of companies to its clients. The collaboration between the 2 firms, the latter a Finovate alum since 2011, additionally supported the relaunch of Walgreens’ branded reward card program, together with boosting distribution of Walgreens’ reward card providing – bodily and digital – throughout B2B, loyalty, rewards, and e-commerce channels.
“We’re honored that Walgreens has chosen InComm Funds’ monetary companies options to offer additional advantages to its clients and communities,” InComm Funds President Stefan Happ mentioned earlier this 12 months when the collaboration was introduced. “This new product providing will set up Walgreens as a vacation spot for monetary companies, constructing on Walgreens’ legacy as a one-stop store for pharmacy and comfort.”
Photograph by Ben Cheung from Pexels