Capital One Financial and retail giant Walmart have signed a new, long-term credit card programme agreement for the US market.

Under the agreement, Capital One will exclusively issue Walmart’s private label and co-branded credit card programme across the country, starting from August next year.

The alliance will build on Capital One’s expertise in the retail financial services market and Walmart’s size and position in omni-channel retailing.

Walmart and Capital One plan to utilise their respective technology platforms and capabilities to deliver digitally-enabled credit cards to customers.

Commenting on the partnership, Walmart said: “Walmart and Capital One share a common goal of transforming the way they serve customers through digitally-led innovations.”

Walmart will offer more information on the development in the coming months.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The retailer’s credit card programme was previously handled by Synchrony Financial, which reported in a SEC filing that its agreement with Walmart will not be renewed after expiration on 31 July 2019.

Synchrony further noted that it is considering strategic options for the Walmart portfolio, including a potential sale or retention of the portfolio and conversion of qualifying accounts to general purpose credit cards.

“The company expects that its strategic options would fully replace the diluted earnings per share impact of programme non-renewal,” Synchrony said in a statement.