Walmart is encouraging its customers to purchase online as it adds a loyalty program to its credit, debit and prepaid card service offerings. Holders of the Walmart Credit Card and Walmart MoneyCard can get 3% back on online purchases, the company reported.
Card users get 2% back on fuel purchases and 1% back on in-store purchases.
Branded as 3-2-1 Save, Walmart stated that the new program provides shoppers a simplified rewards value proposition and brings more value to the everyday purchases customers make using the Walmart family of credit and prepaid cards.
In addition to rewarding existing card holders, the program, by providing cash back and other benefits, can incentivize consumers to sign up for Walmart’s payment products, the retailer noted.
“We’re always looking for ways we can create and change products and services to make them even better for our customers,” said Daniel Eckert, svp/services, Walmart U.S. “The Walmart MoneyCard and Walmart Credit Card have proven to be valuable tools in our customers’ wallets, helping them manage their money for less. The new 3-2-1 Save program simplifies and strengthens the card proposition for more than 10 million cardholders and helps add even more value to their Walmart purchases no matter how they choose to shop with us.”
Walmart conceded that it has avoided launching a loyalty program, which the company regarded as inconsistent with its every day low price value propositions. However, the company indicated that providing the program as an extension of its card program, particularly as a method of driving online purchases, proved an attractive option.
“The new 3-2-1 Save program aligns with Walmart’s mission for consumers to save money and live better,” said Tom Quindlen, evp and CEO, retail cards, for one of Walmart’s financial services partners, Synchrony Financial. “We are excited about this program as it also recognizes the increasing shift toward online and mobile shopping, and is the first credit card program designed to offer Walmart cardholders even greater savings on their online purchases.”