Dive Brief:
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As consumers continue to reel from the financial impacts of the past year, Sam's Club has collaborated with Synchrony and Mastercard to create a Sam's Club Mastercard rewards program to offer customers more digital features and rewards, the retailer announced on Jan. 27.
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As part of its new Sam's Club Plus membership, members can earn a total of 5% cash back on eligible purchases, like dining, takeout, gas and other transactions. Cardholders can also make contactless payments, access their rewards on their card or online and view their account details via the Sam's Club mobile app, the company said.
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The company released the new cardholder benefits on Jan. 27 and will roll out the redesigned card next month, per the company announcement.
Dive Insight:
After a year that has been financially devastating for many businesses and individuals, Sam's Club is enhancing the rewards it offers customers. The company's decision to upgrade its card rewards was part of its overall effort to help customers save money and earn incentives, Tony Rogers, senior vice president and chief member officer of Sam's Club, said in a press release.
"This new Sam's Club Mastercard rewards program builds upon Sam's Club as an essential business during the pandemic where we saw sales increasing by millions of transactions per week," Rogers said in a statement. "Now more than ever, our members need savings."
Sam's Club has also eased the application process, allowing consumers to apply for the program through its mobile app, on its website, via text message and at the store's self-checkout using Synchrony's dApply technology, per the announcement. Sam's Club joins other retailers in making its credit card application process more accessible during the COVID-19 pandemic now that consumers aren't shopping in-store as much.
Over the years, Synchrony has amassed multiple store credit card clients, including retailers like J.C. Penney, Fanatics and HSN. Amazon also tapped the company to introduce its Amazon Credit Builder tool, which lets Prime members get 5% back on Amazon.com transactions.
