Walmart and GE Money Extend Deal for Debit and Credit Card Services

Walmart customers can look forward to six more years of credit card service from GE Money, after the retailer extended its existing private label lending agreement in July. The consumer lending unit of General Electric has provided retail financing to the discount chain since 1999. Customers participating in Walmart's consumer credit card program enjoy features and special offers unique to the retailer, including:

  • Gasoline discounts of up to three cents per gallon at Walmart or Murphy USA pumps.
  • Special financing offers on select Walmart and Sam's Club merchandise.
  • Cash advances of up to $100 available at any Walmart register.

The credit card agreement between GE Money and Walmart also allows both companies to extend their reach into America's "unbanked" population. In partnership with Green Dot, Walmart and GE operate Walmart MoneyCard, a prepaid debit card that consumers can reload at over 4,000 of the retailer's domestic locations. In remarks to reporters, GE spokesperson Margaret Keane expressed her company's enthusiasm to serve millions of Walmart customers during "challenging economic times."