Walmart Canada Bank launches Walmart Rewards MasterCard

New Walmart Rewards MasterCard (CNW Group/Walmart Canada Bank)

New credit card allows cardholders to earn Walmart Rewards on everyday spending to redeem on everyday needs and wants

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MISSISSAUGA, ON, June 15 /CNW/ - Walmart Canada Bank, a subsidiary of Wal-Mart Canada Corp., announced today the launch of the Walmart Rewards MasterCard, a credit card that turns everyday spending into everyday rewards through earning and redeeming Walmart Rewards.

"The Walmart Rewards MasterCard gives cardholders flexibility in earning rewards and tremendous selection on the merchandise they can redeem them for," said Trudy Fahie, President and CEO of Walmart Canada Bank. "Walmart Rewards can be earned anywhere MasterCard(R) is accepted and used to purchase merchandise at Walmart Canada's already unbeatable prices, from groceries to electronics, depending on what cardholders need or want."

Walmart Rewards are earned in dollar equivalents - not points - making it easy for cardholders to know how much they have to redeem. Walmart Rewards can be earned on a cardholder's everyday spending, from groceries to gas. Cardholders earn 1.25 per cent of their purchases in Walmart Rewards for virtually every dollar spent at Walmart Canada and 1 per cent of their purchases in Walmart Rewards when used virtually anywhere else MasterCard is accepted. There are no limits on how many Walmart Rewards cardholders can earn.

Walmart Rewards can be redeemed instantly on future purchases, in five dollar increments, at the cash register of any Walmart Canada store nationally. Five Walmart Rewards equal five dollars in redemption value. When redeeming their Walmart Rewards, cardholders can choose from hundreds of thousands of products at Walmart Canada's unbeatable prices, so they can stretch their Walmart Rewards further and save even more.

As a special offer, when cardholders use their Walmart Rewards MasterCard once at Walmart Canada and once anywhere else MasterCard is accepted within the first 30 days, they can earn a one-time Walmart Rewards bonus redeemable for a $15 value. When they opt to have paperless statements, cardholders can earn a one-time Walmart Rewards bonus redeemable for a $10 value. Full terms and conditions of these offers are available at www.walmartcanadafinancialservices.ca.

Customers can conveniently apply for the Walmart Rewards MasterCard(1) at the register inside Walmart Canada stores and at Walmart Rewards MasterCard in-store kiosks, where available. Customers can qualify instantly, if approved, and start using their Walmart Rewards MasterCard immediately.

"Customers are always asking Walmart for more ways to help them save money and stretch their budgets further," added Fahie. "The Walmart Rewards MasterCard was developed with our customers in mind and the Walmart Rewards program focuses on giving them value when they spend on and need life's everyday things."

Cardholders can review transactions, check their Walmart Rewards balance and make payments, anytime and anywhere, when they register their account at walmartcanadafinancialservices.ca. They can also manage their Walmart Rewards MasterCard account via telephone at 1-888-331-6133, Monday to Saturday, 8 a.m. to 12 a.m. ET and Sunday, 10 a.m. to 9 p.m. ET.

Like Wal-Mart Canada Corp., Walmart Canada Bank aims to make a positive difference in the lives of Canadians by supporting charitable initiatives. From June 15 until July 15, 2010, Walmart Canada Bank will donate one dollar to the Children's Miracle Network (CMN) for every application it receives in-store. CMN is a non-profit organization dedicated to saving and improving the lives of children by raising funds for children's hospitals. Wal-Mart Canada Corp. is CMN's largest corporate donor and has raised and donated more than $50 million since 1994.

For more information on the Walmart Rewards MasterCard and complete terms and conditions of the Walmart Rewards program, please visit: www.walmartcanadafinancialservices.ca

About Walmart Canada

Headquartered in Mississauga, Ontario, Walmart Canada operates 317 retail outlets nationwide and serves more than one million customers daily. The company recently launched Walmart Canada Bank, a subsidiary of Wal-Mart Canada Corp., with the goal of bringing Canadians convenient and value-focused financial products and services that help them save money and live better.

(R) MasterCard is a registered trademark of MasterCard International Incorporated

(1) Except in Quebec

/NOTE TO PHOTO EDITORS: A photo accompanying this release is available at http://photos.newswire.ca. Images are free to accredited members of the media/

For further information: Karin Campbell, Walmart Canada, 416-458-4962; Felicia Fefer, Walmart Canada, 905-821-2111 ext. 4466