Walmart Splits From Capital One

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Capital One is no longer Walmart’s exclusive credit card issuer. The partnership between Walmart and Capital One began in 2019. The credit card company issued all the cards for Walmart costumers. Walmart’s complaint was that Capital One took too long to send replacement cards and process payments by Walmart customers.

In March of this year a federal judge rules that Walmart could end the partnership early.

“While Capital One and Walmart have ended their card partnership, nothing changes today for cardholders – cardholders can continue to earn and redeem awards, and previously accrued awards will retail their value”, a press release stated. Unless informed otherwise, cardholders can also continue to use their Capitol One Walmart reward cards wherever Mastercard is accepted and the Walmart Rewards Card for purchases at Walmart.”

Progressive Grocer’s 2024 list of the top food and consumable retailers in Norh America lists Walmart as number 1 and Sam’s Club as number 8.

Each week 240 million consumes and members visit Walmart’s approximately 10,500 stores and numerous e-commerce websites in 19 countries. Walmart has about 2.1 million associates worldwide. The credit card is an important link.

POSTSCRIPT: Since the pandemic, speed has become mandatory for every retailer. Quick delivery by Walmart, Target and Amazon assures customer satisfaction. One can easily understand why Walmart was dissatisfied with Capital One’s delays. I assume Walmart is looking for another national bank to take over the credit card business. Stay tuned.

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