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HSBC and CVS/pharmacy to Launch Loyalty Rewards Payment Card |
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HSBC Finance Corporation's card and retail services business and CVS/pharmacy have entered into an agreement to offer a new CVS-branded loyalty rewards payment card. The new CVS ExtraCare® Plus loyalty rewards payment card enhances CVS/pharmacy's mission to be the easiest pharmacy retailer for customers to use.
Planned for a mid-2007 pilot launch at the retailer's 141 Indianapolis-area stores, the CVS ExtraCare® Plus card will provide CVS/pharmacy customers with a convenient and secure multipurpose rewards and payment solution that links the cardholder's existing checking account to their existing ExtraCare account. HSBC card and retail services issues merchant-branded payment cards for premier retailers and manufacturers, and is among the largest issuers of credit cards in the United States. The new CVS ExtraCare Plus card is the first card product offered under HSBC's OptiPay(sm) loyalty rewards PIN-payment program. Through the Tempo Payment Network, HSBC's OptiPay(sm) program offers retailers reduced checkout costs without having to make any point-of-sale changes; and offers consumers a greater choice of merchant-branded, affinity-based, PIN-secured payment options. In addition to in-store payments and rewards, CVS ExtraCare Plus cardholders will be able to use the new card at more than 200,000 merchant locations in the U.S. that participate in the Tempo Payment Network. |
