BENTONVILLE, Ark. -- (Business Wire)
Sam’s Club, a division of Wal-Mart Stores, Inc., has finalized a
multi-year agreement with GE Capital Retail Bank to extend their
existing relationship to provide Sam’s Club-branded credit cards to club
members in the U.S. and Puerto Rico.
As part of the extension, GE Capital’s Retail Finance business will
continue to manage and service the credit card programs for Sam’s
Club Savings, Business and Plus members. Under the agreement, the Sam’s
Club co-branded credit card programs will be converted to MasterCard
later this year, providing members with a broader card acceptance
network, as well as more robust features and benefits. Walmart has also
extended their relationship with GE Capital Retail Bank and branded
cards will transition to MasterCard later this year.
GE Capital’s Retail Finance began its relationship with Sam’s Club in
1993, providing credit programs for business members; adding revolving
credit programs for Sam’s Club consumer members in 1995; and currently
offering Sam’s Club private-label credit card programs and co-branded
cards for Savings, Business and Plus members – all of which double as
membership cards. Member credit cardholders enjoy a range of benefits
(subject to credit approval), including cash back on every day purchases
for the co-branded card, in-club cash access, photo protection, online
account management, one card convenience, special financing promotions,
and savings opportunities and events.
About Sam’s Club
Sam’s Club®, a division of Wal-Mart Stores, Inc. (NYSE: WMT),
is the nation’s eighth largest retailer and a leading membership
warehouse club offering superior products and services to more than 47
million members in clubs across the U.S., as well as in Brazil, China
and Mexico. Members save an average of 34 percent over traditional
retailers. To learn more about Savings Made Simple®, visit SamsClub.com,
and look for Sam’s Club on Twitter,
Facebook,
Pinterest
and our Mobile
and iPad® Apps.
About GE Capital’s Retail Finance business
GE Capital’s Retail Finance business is one of the country’s leading
retail lenders, with 80 years of experience in consumer financing. The
business, with its lending entity GE Capital Retail Bank, provides
customized credit programs for retailers and consumers in the United
States. This includes private label and bankcard credit programs for
major national, regional and independent retailers in the U.S., as well
as private label credit card programs, special financing, and
promotional and installment lending, bankcards and financial services
for consumers through dealers; contractors; manufacturers; healthcare
practices; and service providers across diverse industry segments. More
information can be found at www.gogecapital.com
and twitter.com/GoGECapital.
GE Capital is one of the world’s largest providers of credit. For over
one million businesses, large and small, GE Capital provides financing
to purchase, lease and distribute equipment, as well as capital for real
estate and corporate acquisitions, refinancings and restructurings. For
its 100+ million consumer customers, GE Capital offers credit cards,
sales finance programs, home, car and personal loans and credit
insurance. For more information, visit www.gecapital.com
or follow company news via Twitter @GECapital.
About MasterCard
MasterCard
(NYSE: MA), www.mastercard.com,is a technology company in the global payments industry. We operate
the world’s fastest payments processing network, connecting consumers,
financial institutions, merchants, governments and businesses in more
than 210 countries and territories. MasterCard’s products and solutions
make everyday commerce activities – such as shopping, traveling, running
a business and managing finances – easier, more secure and more
efficient for everyone. Follow us on Twitter @MasterCardNews,
join the discussion on the Cashless
Pioneers Blog and subscribe
for the latest news on the Engagement
Bureau.
Contacts:
Sam’s Club Media Relations
Carrie Foster Moore, 800-331-0085
http://news.walmart.com/reporter
or
GE
Capital Retail Bank, 678-518-2596
Media.relations@ge.com
or
MasterCard
Media Relations, 914-249-6714
Sarah_ely@mastercard.com
Source: Sam’s Club
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