PRZOOM - /newswire/ -
Bentonville, AR, United States, 2014/04/04 - Samís Club, a division of Wal-Mart Stores, Inc. has finalized a multi-year agreement with GE Capital Retail Bank to extend their existing relationship to provide Samís Club-branded credit cards to club members in the US & Puerto Rico [NYSE: WMT]. NYSE: GE
As part of the extension, GE Capitalís Retail Finance business will continue to manage and service the credit card programs for Samís Club Savings, Business and Plus members. Under the agreement, the Samís Club co-branded credit card programs will be converted to MasterCard later this year, providing members with a broader card acceptance network, as well as more robust features and benefits. Walmart has also extended their relationship with GE Capital Retail Bank and branded cards will transition to MasterCard later this year.
GE Capitalís Retail Finance began its relationship with Samís Club in 1993, providing credit programs for business members; adding revolving credit programs for Samís Club consumer members in 1995; and currently offering Samís Club private-label credit card programs and co-branded cards for Savings, Business and Plus members all of which double as membership cards. Member credit cardholders enjoy a range of benefits (subject to credit approval), including cash back on every day purchases for the co-branded card, in-club cash access, photo protection, online account management, one card convenience, special financing promotions, and savings opportunities and events.
About Samís Club
Samís Clubģ (SamsClub.com), a division of Wal-Mart Stores, Inc., is the nationís eighth largest retailer and a leading membership warehouse club offering superior products and services to more than 47 million members in clubs across the U.S., as well as in Brazil, China and Mexico. Members save an average of 34 percent over traditional retailers.
About GE Capitalís Retail Finance business
GE Capitalís Retail Finance business (gogecapital.com) is one of the countryís leading retail lenders, with 80 years of experience in consumer financing. The business, with its lending entity GE Capital Retail Bank, provides customized credit programs for retailers and consumers in the United States. This includes private label and bankcard credit programs for major national, regional and independent retailers in the U.S., as well as private label credit card programs, special financing, and promotional and installment lending, bankcards and financial services for consumers through dealers; contractors; manufacturers; healthcare practices; and service providers across diverse industry segments.
GE Capital (gecapital.com) is one of the worldís largest providers of credit. For over one million businesses, large and small, GE Capital provides financing to purchase, lease and distribute equipment, as well as capital for real estate and corporate acquisitions, refinancings and restructurings. For its 100+ million consumer customers, GE Capital offers credit cards, sales finance programs, home, car and personal loans and credit insurance.
MasterCard (mastercard.com), is a technology company in the global payments industry. We operate the worldís fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCardís products and solutions make everyday commerce activities such as shopping, traveling, running a business and managing finances easier, more secure and more efficient for everyone.