Walgreens Boots Alliance Inc.
WBA,
plans to work with InComm Payments to launch a bank-account product that will be linked to a Mastercard Inc.
MA,
debit card. The bank accounts will be established at MetaBank, which will also issue the debit cards. “This agreement is part of Walgreens’ alternative profit strategy and recently announced broader initiative to launch new financial products and services that reinforce its ongoing commitment to offering differentiated services and benefits to its customers,” Walgreens said in a release. The new program will allow cardholders to earn Walgreens rewards on in-store and online purchases. Walgreens previously announced plans to launch credit cards that will also be linked to the rewards program and offer heightened rewards for spending in the health and wellness categories. Walgreens shares are up 34% over the past three months as the S&P 500
SPX,
has risen 6.4%.
Read More: Walgreens to launch bank-account offering through partnerships