Walmart Rewards Mastercard launches first-ever payment installment plan

Expanding services and payment options for Walmart customers

Mississauga, Nov 17, 2021 – Walmart Canada and Duo Bank of Canada are launching the first-ever Walmart Rewards™ Mastercard® Installment Plan to offer Walmart customers even more convenient and flexible payment options.

Customers have said they want more payment flexibility when they shop. The new Installment Plan through the Walmart Rewards Mastercard provides flexible ways to pay for larger ticket items and shopping baskets. Duo Bank is the issuer of the Walmart Rewards Mastercard.

Customers can split their in-store and all online general merchandise purchases into six equal installments billed to their Walmart Rewards Mastercard monthly, when the total purchase is $199.99 or more. This new payment option will offer customers more choice and flexibility in addition to the benefit of Walmart Canada’s everyday low prices and the Walmart Rewards earned on all transactions when using the Walmart Rewards Mastercard.

As part of the launch of the program, the 2.5% Installment Plan set-up fee is being waived for a limited time.

“This is a very exciting new service for our customers and one they’ve asked for,” said Jennifer Jones, Vice President, Financial Products, Services and Payments, Walmart Canada. “We’re more than just a place where people shop, we’re a company Canadians rely on for everyday needs, ways to save money and to live better. Offering the flexibility to pay in installments along with our everyday low prices and Walmart Rewards is just one more way for us to make a difference in Canadians’ lives. We will continue to expand our financial services offering to provide more access, value and inclusion for all Canadians.”

Since the launch of Walmart Rewards Mastercard, cardholders have realized almost $400 million of redeemed Canadian dollars back in Walmart stores and on Walmart.ca.

“We are thrilled to deliver this new payment option for Canadians to support holiday shopping and our customers’ ongoing everyday needs,” said Jim Kozack, Vice President Product Marketing, Duo Bank. “This new program builds on the already strong offering of the Walmart Rewards Mastercard and provides more flexibility and options for cardholders. “

The new service option is part of Walmart Canada’s overall plan to strengthen and expand its financial services offering and launch new products and services for millions of customers across Canada.

The new service will be promoted in stores and online across the country. Visit Walmart.ca Financial Services for Installment Plan Terms and Conditions.

About Walmart Canada
Walmart Canada operates a chain of more than 400 stores nationwide serving 1.5 million customers each day. Walmart Canada's flagship online store, Walmart.ca is visited by more than 1.5 million customers daily. With more than 100,000 associates, Walmart Canada is one of Canada's largest employers and is ranked one of the country's top 10 most influential brands. Walmart Canada was recently recognized as a LinkedIn Top Company of 2021 and was also named one of Canada's most popular brands (based on Google searches). Walmart Canada has made a commitment to regeneration – focusing on equitable opportunity, sustainability, community and ethics and integrity. Since 1994, Walmart Canada has raised over $500 million to support communities across Canada. Additional information can be found at walmartcanada.ca and on Walmart Canada's social media pages – Facebook, Twitter and Instagram.

About Duo Bank of Canada
Duo Bank is a Schedule I Canadian Bank founded on a mission to provide value-driven financial products that are clear and simple, to help Canadians focus on what matters to them. Duo Bank specializes in turnkey and customizable financial services solutions designed to deepen customer loyalty and grow sales. The growing complement of products and services includes credit cards, rewards programs and related protection services and deposits. With a value-driven approach to financial services, robust sales channels and innovative and efficient operational solutions, Duo Bank partners with industry leading service providers to deliver financial solutions for its customers. Headquartered in Toronto, Duo Bank is privately held by an investor group led by funds managed by affiliates of Stephen Smith, Centerbridge Partners, L.P. and Ontario Teachers' Pension Plan Board. More at www.duobank.com