New Cards and MasterPass Partner Hit the Market
If your wallet can hold more plastic, you've got more credit card options, as retailer Wawa has launched a new private label store credit card and Wells Fargo has added another American Express option to its line of American Express Propel cards. Or if you prefer to pay digitally, Walmart has joined MasterCard's MasterPass program.
Wawa launched its new card early in the last quarter of 2015. Wawa paired with Citi to produce this fuel rewards card, which offers savings on fuel purchases at the popular Pennsylvania-based convenience store chain with locations along the East Coast. When re-fueling at Wawa stores, customers will save five cents per gallon, up to 100 gallons per month. These savings get applied as a statement credit each month.
"At Wawa, we are always looking for ways to simplify the lives of our customers and improve their experience with us," said Brian Schaller, vice president of Fuel at Wawa, in a statement.
The card isn't just regulated to fuel purchases either--it can also be used in-store to purchase food, beverages and merchandise.
Wawa isn't the only one putting out a new card on the market, Wells Fargo is offering a no annual fee Propel American Express rewards card.
"In 2014, we launched our first two Propel American Express Cards as part of our goal to earn more of customers' business," said Beverly Anderson, head of Consumer Financial Services for Wells Fargo, in a statement. "Since then, we have heard from our customers that they like the Propel 365 Card and Propel World Card but wanted us to find a way to offer a card with similar features without paying an annual fee -- so that's what we did."
The new card has a points-based rewards system. Cardholders earn triple points on gas purchases and double points on restaurant purchases. Cardholders can also earn an extra ten percent on their points if they have and maintain a qualifying Wells Fargo account.
The card has a zero-percent introductory APR for the first 15 months the account is open. Thereafter, its variable APR will be 12.40 percent to 26.24 percent based on creditworthiness.
If new cards aren't your thing--you're a digital payments kind of person--then you might be happy to hear that Walmart has joined the stable of stores under MasterCard's MasterPass banner and will accept the payment feature on its US online sites.
MasterPass is a digital wallet that was designed to make online and mobile shopping faster and safer. It stores your account information, and it can also store shipping information so that you don't have to fill out billing and shipping addresses every time you make an online purchase. The wallet can store multiple credit cards, debit cards, reloadable prepaid cards and loyalty program information. When you shop online at a retailer that accepts MasterPass, you click on the MasterPass button, sign into your digital wallet, select the card you want to make your purchase with and the shipping address, and then you complete the purchase.
With this digital wallet, MasterCard is storing all of your information on a secure platform, and you don't have to worry about individual retailers having access to your personal information.
“We have enjoyed a longstanding business relationship with Walmart and are pleased to expand this into the online and mobile channels through MasterPass,” said Michael Cyr, group executive, U.S. Market Development, MasterCard, in a statement. “With MasterPass, consumers can go online, place their order and pay with just a click. The burden of entering delivery and billing information is eliminated, further enhancing the Walmart online customer experience.”
Walmart will accept MasterPass starting this year.