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Sam's Club launches chip-enabled credit card

In a major boost to member benefits, Sam’s Club announced a credit card cash back program that gives members the opportunity to earn 5% cash back on fuel, 3% cash back on dining and travel and 1% cash back on all other purchases, up to $5,000 annually.

The new Sam’s Club MasterCard comes with enhanced credit card safety, a top concern for today’s shoppers. Sam’s Club is the first mass retailer to actively implement chip-enabled technology. Each credit card has an embedded chip that makes the card more difficult to duplicate, which provides enhanced security from fraudulent activity.

Starting June 23, the Sam’s Club 5-3-1 cash back program on its new co-branded MasterCard, issued by GE Capital Retail Bank, is available to qualifying Sam’s Savings, Sam’s Business and Sam’s Plus members in the United States and Puerto Rico. The cashback value proposition makes the new Sam’s Club program the most competitive credit reward program in the club category, the retailer stated.

“We’re always looking for ways to find time and money-saving solutions for our members. The 5-3-1 Sam’s Club program and co-branded MasterCard mean industry-leading savings and security innovation for today’s consumer,” stated Rosalind Brewer, president and CEO of Sam’s Club.“Under the 5-3-1 cash back program, Sam’s Club members can earn up to $5,000 cash back annually. That could cover a family of four’s travel to Disney, or five sets of laptops and wireless phones for a small business. We believe this value is the best in the industry.”

“MasterCard has taken a strong stance on the need for the U.S. market to make the transition to chip-enabled credit cards for the benefit of cardholders and merchants alike,” stated Chris McWilton, president of North America division for MasterCard. “This move by Sam’s Club makes them a trailblazer in getting chip cards in the hands of businesses and consumers, and leading the push toward a safer and more secure customer experience. This will no doubt help drive chip-enabled technology forward here in the United States as it gains more traction.”

 

 

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